Israel’s Liquidity Group is the country’s first company to join the Abu Dhabi Investment Office Innovation programme.
The fintech firm has partnered with Adio’s $545m (AED2bn) programme as it looks to open a research and development centre in Abu Dhabi to develop its proprietary technology-enabled underwriting algorithm and other financial solutions.
Adio has awarded Liquidity Group competitive financial incentives and will support the company with non-financial incentives throughout the partnership. With Liquidity Group’s expansion to Abu Dhabi, it will also benefit from the emirate’s extensive R&D support network, access to local talent and a time zone that favourably overlaps with global markets.
Israeli firm partners with Abu Dhabi
Liquidity Group is the first Israeli company supported through the Innovation Programme, representing a milestone for Abu Dhabi-Israel relations since the historic signing of the Abraham Accords. The partnership furthers Adio’s efforts to advance cooperation between the two markets.
The partnership agreement was signed by Abdulla Abdul Aziz Al Shamsi, Acting Director-General of Adio, and Ron Daniel, CEO of Liquidity Group, during Abu Dhabi Finance Week (ADFW) 2022.
Hosted by the Abu Dhabi Global Market (ADGM), an international financial centre in the UAE capital, Abu Dhabi Finance Week brings together a global audience of decision makers and industry leaders to accelerate the transformation of finance in the emirate.
Liquidity Group has become the industry’s fastest growing lender to mid-market, late-stage companies by automating the entire debt lending cycle. The firm’s machine learning and decision science technology has enabled the firm to deploy more capital through more deals faster than any firm in capital markets history.
Al Shamsi said, “Liquidity Group makes a strong addition to Abu Dhabi’s financial services ecosystem, bringing its robust expertise in machine learning to grow the venture financing landscape.
“With a focus on locally relevant and globally exportable solutions, the technology developed in the emirate will help to support start-ups in Abu Dhabi and the region.
“Adio’s partnership with Liquidity Group also serves to deepen the relationship between the UAE and Israel, as the two markets pursue innovation-driven technologies and activities with far-reaching impact.”
Liquidity Group is the first Israeli company supported through the Innovation Programme, representing a milestone for Abu Dhabi-Israel relations since the historic signing of the Abraham Accords. The partnership furthers ADIO’s efforts to advance cooperation between the two markets.
Adio will support Liquidity Group in initiatives that build machine learning capabilities in Abu Dhabi. The company’s R&D centre will focus on developing its machine learning-enabled LendTech solutions for its underwriting business.
It will also build a Centre of Excellence of Enterprise Machine Learning that supports other start-ups within Abu Dhabi in applying Liquidity Group’s modelling methodologies. Additionally, it will engage with Abu Dhabi-based universities to develop educational training programmes and certifications focused on machine learning.
Liquidity Group’s Ron Daniel said, “Beyond the personal excitement of fulfilling the Abraham Accords in real life and growing networks, friendships and partnerships in the UAE, I have always believed that the UAE and ADGM, in particular, are the best places in the world to scale tech companies. Thanks to our partners at Adio, our new R&D centre in ADGM is growing fast and is swiftly being populated with some of the best global brains. We look forward to extending our partnership with Adio to benefit all UAE tech.”
ADIO established an office in Tel Aviv in 2021 to support innovative Israeli companies looking to establish and expand their operations in the UAE capital.
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