Haifin

What Haifin does

Haifin (formerly UAE Trade Connect) is a blockchain-based trade-finance platform that operates a consortium of UAE commercial banks, Islamic banks, and fintechs (14 banks plus 5 fintechs per company sources, or 13 banks plus 2 fintechs per alternative sources) on a shared distributed ledger for invoice authentication, fraud detection, and trade validation. The platform is built on a cloud-native microservices architecture deployed on e& enterprise's E1Cloud and combines Distributed Ledger Technology with 'Applied Analytics Intelligence' for anomaly detection; modular use cases include Electronic Bank Guarantees (eBG), a National e-Invoice Registry, AML initiatives, and eKYC/eKYB identity verification. Since commercial launch in 2021, the platform has processed over AED 200 billion in transaction value.

Haifin monetizes through consortium membership fees paid by financial institutions and transaction-based fees on processed trade volume, with go-to-market executed via direct enterprise engagement and referral-driven consortium expansion. The company is a wholly-owned subsidiary of e& enterprise (part of e&, formerly Etisalat Group), which provides cloud infrastructure, enterprise relationships, and strategic backing; headcount is reported at 11-50 employees and operations are concentrated in the UAE. The company is led by CEO Ali Sultan Rakkad Ali Amri and rebranded from UAE Trade Connect to 'haifin' in December 2024 to signal planned expansion into GCC, MENA, and APAC markets.

Revenue, ARR, and burn are not disclosed publicly, and the platform appears to operate as a strategic fintech asset for e& enterprise rather than a venture-backed standalone; there are no external funding rounds or acquisitions in the available record, and growth is being funded through the parent's balance sheet. The principal moat sits in the network effects of the bank consortium and the regulatory first-mover position as the UAE's first commercial blockchain trade-finance DApp, rather than in the underlying analytics or cloud infrastructure, which are increasingly commoditized.

Name

Haifin

Legal name

Haifin

Website

https://haifin.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Haifin is a blockchain-based trade-finance platform, subsidiary of e& enterprise, that operates a UAE consortium of banks and fintechs on a shared distributed ledger for invoice authentication, fraud detection, and trade validation, and is expanding into GCC, MENA, and APAC.

Ownership category

akta.pro rank

Product category

Trade Finance Technology

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Trade Finance & Supply Chain Tokenization (invoices, bills of lading, provenance) (FSAPAIAK)

akta.pro secondary industries

AML/KYC, KYB & Identity Verification (VASP/Travel Rule) (FSAPAJAC), Settlement, Clearing & Reconciliation for Tokenized Assets (DvP, PvP, netting, post-trade) (FSAPAIAI), Blockchain Compliance, AML & Transaction Monitoring (On-chain Analytics) (FSAGAMAF)

Keywords

• Trade finance platform
• Blockchain banking infrastructure
• Invoice fraud detection
• Distributed ledger trade
• Banking consortium network

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales

Revenue model

1. Consortium Platform Fees: Revenue generated from financial institutions joining the consortium platform. Banks and fintechs pay for access to fraud detection, trade validation, and transaction authentication services.
2. Transaction Processing: Platform processes trade finance transactions and generates revenue from transaction value processed. Has processed over AED 200 billion in transaction value since commercial launch in 2021.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Haifin operates a blockchain-based trade finance platform that uses Distributed Ledger Technology (DLT) and Applied Analytics Intelligence to provide transaction authentication, invoice validation, and fraud detection for a consortium of commercial banks, Islamic banks, and fintechs. The platform unifies lending institutions on shared infrastructure to mitigate duplicate and fraudulent invoices, enable paperless trade workflows, and support use cases such as electronic bank guarantees (eBG), a national e-invoice registry, anti-money laundering initiatives, and eKYC/eKYB identity verification. Since commercial launch in 2021, the platform has processed more than AED 200 billion in transaction value and hosts 14 commercial and Islamic banks plus 5 fintechs in the UAE.

Product overview

Haifin is a unified blockchain-based trade finance platform (rebranded from UAE Trade Connect in December 2024) that provides fraud detection and trade validation through Distributed Ledger Technology (DLT) and Applied Analytics Intelligence. The platform operates as a consortium model hosting 14 commercial and Islamic banks along with 5 fintechs, and offers modular use cases including Electronic Bank Guarantees (eBG), National e-Invoice Registry, Anti-Money Laundering Initiatives, and eKYC/eKYB identity verification. The platform has processed over AED 200 billion in transaction value since its commercial launch in 2021 and is expanding from UAE into GCC, MENA, and APAC regions.

Differentiator

Problem solved

Functional benefit

Products and services

• Haifin Trade Finance Platform A blockchain-based trade finance platform that uses Distributed Ledger Technology (DLT) and Applied Analytics Intelligence to ensure transactional security and authenticity, providing fraud detection, invoice authentication, and trade validation as a unified ecosystem for banks, financial institutions, and fintechs. It hosts 14 commercial and Islamic banks plus 5 fintechs in the UAE and supports modular use cases including Electronic Bank Guarantees (eBG), a National e-Invoice Registry, Anti-Money Laundering initiatives, and eKYC/eKYB identity verification.

Quantifiable outcome

• Processed over AED 200 billion in transaction value since commercial launch in 2021
• +1 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• e& enterprisecoreStrategic or Co-development PartnerHaifin is a subsidiary of e& enterprise (formerly Etisalat). The platform is deployed on e& enterprise's E1Cloud platform, leveraging cloud-native infrastructure for scalability and deployment.
• DP World Financial ServicesminorChannel Partner/ Reseller/ DistributorFintech consortium member participating in haifin trade finance platform
• BeehiveminorChannel Partner/ Reseller/ DistributorP2P fintech consortium member participating in haifin trade finance platform
• FAB (First Abu Dhabi Bank)coreChannel Partner/ Reseller/ DistributorLeading consortium bank actively promoting haifin platform for digitizing trade in UAE; addressing critical industry challenges related to duplicate and fraudulent invoices affecting SME financing
• National Bank of FujairahcoreChannel Partner/ Reseller/ DistributorConsortium bank enabling trust in transactions through haifin platform
• Commercial Bank of DubaicoreChannel Partner/ Reseller/ DistributorConsortium bank using platform to reduce fraud and ensure invoice authenticity
• RAKBANKcoreChannel Partner/ Reseller/ DistributorLeading bank on platform addressing fraudulent invoices and improving trade ecosystem transparency

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Komgo: Komgo is a blockchain-based trade finance platform built as a consortium of major global banks and commodity traders. It directly competes with Haifin in providing distributed-ledger fraud detection, KYC, and digital document exchange for trade finance.
• Marco Polo Network (TradeIX): Marco Polo Network is a trade-finance and working-capital platform on R3 Corda connecting banks and corporates. It targets similar use cases (invoice financing, supply chain finance, fraud reduction) and competes for the same bank-consortium customers as Haifin.
• Contour (formerly Voltron): Contour is a bank-led blockchain network for digitizing letters of credit and other trade documents. It overlaps with Haifin's electronic bank guarantees and digital trade-document use cases and competes for global bank consortium participation.
• Taulia: Taulia is a working-capital and supply-chain finance platform serving corporates and banks with invoice discounting and dynamic discounting. It overlaps with Haifin's trade-finance and invoice-fraud use cases from a fintech/platform angle.
• LiquidX: LiquidX operates a digital trade finance and working capital network connecting banks, insurers, and corporates. It competes with Haifin in digitizing receivables, letters of credit, and supply-chain finance transactions.

Broad incumbents

• R3 (Corda): R3 provides the Corda enterprise blockchain platform used by many financial institutions and underpins several trade-finance consortia including Marco Polo. It is a broader incumbent offering infrastructure that competes with and complements Haifin's DApp approach.

Regional players

• TradeGo: TradeGo is an Asia-based (Hong Kong) electronic trade platform consortium for trade finance and supply chain finance. It is a regional peer in Haifin's target APAC expansion corridors and addresses similar digitisation and fraud-prevention needs.

Emerging players

• Enigio: Enigio provides digital original document solutions (trace:original) for trade finance, enabling electronic bills of lading and other negotiable instruments. It overlaps with Haifin's paperless trade and e-document use cases.

Others

• Beehive (P2P SME financing): Beehive is a UAE-based peer-to-peer SME financing platform and is itself a Haifin consortium member. It is an ecosystem partner/participant in the trade-finance fraud-detection network rather than a direct competitor.
• e& enterprise: e& enterprise is the parent company and infrastructure provider for Haifin, supplying cloud (E1Cloud) and enterprise capabilities. It is an ecosystem/parent participant rather than a market competitor.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/haifin

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Haifin