The Abu Dhabi Investment Office (ADIO) Innovation Programme has partnered with the breakthrough FinTech company Liquidity Group, the first Israeli company to join the $545 million program.
The partnership will support Liquidity Group’s establishment of an R&D center in Abu Dhabi to develop its proprietary technology-enabled underwriting algorithm and other financial solutions.
The partnership agreement was signed by Mr. Abdulla Abdul Aziz Al Shamsi, Acting Director-General of ADIO, and Mr. Ron Daniel, CEO of Liquidity Group, during Abu Dhabi Finance Week (ADFW) 2022. Hosted by the Abu Dhabi Global Market (ADGM), an international financial center in the UAE capital, ADFW brings together a global audience of decision-makers and industry leaders to accelerate the transformation of finance in the emirate.
Founded in 2018, Liquidity Group is a pioneering technology firm that has become the industry’s fastest-growing lender to mid-market, late-stage companies by automating the entire debt lending cycle. The firm’s patented machine learning and decision science technology have enabled the firm to deploy more capital through more deals faster than any firm in capital markets history.
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 favorably overlaps with global markets.
“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 startups 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.”
Through the Innovation Program, ADIO will support Liquidity Group in initiatives that build Machine Learning capabilities in Abu Dhabi. The company’s R&D center 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 startups within Abu Dhabi in applying Liquidity Group’s modeling methodologies. Additionally, it will engage with Abu Dhabi-based universities to develop educational training programs and certifications focused on Machine Learning.
Mr. Daniel stated that “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 center 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.”
Liquidity Group will establish its R&D center at ADGM, which offers a business-friendly and holistic regulatory environment with an advanced financial services infrastructure. The partnership strengthens the UAE capital’s position as a leading financial hub, which is home to some of the world’s largest sovereign wealth funds, a thriving stock exchange and an award-winning international financial center.