Fractional CFO services in Manama

Manama is the GCC's fintech regulatory pioneer - the Central Bank of Bahrain launched the region's first regulatory sandbox in 2017, issued the GCC's first open banking framework, and established one of the Gulf's earliest crypto-asset regulatory regimes, all before larger neighbours moved.

That first-mover regulatory advantage drew Rain and Tarabut Gateway - two of the region's most-cited fintech companies - through the CBB sandbox to become fully licensed operators. Bahrain FinTech Bay (BFB), acquired by Benefit in 2023, had incubated 116+ startups since 2018. The ecosystem is small - Bahrain's population is 1.5 million - but its regulatory infrastructure punches well above its demographic weight, and international fintechs consistently cite Bahrain as their GCC testing ground before scaling into Saudi Arabia.

We work with Manama-based startups from seed to Series B+, supporting them on fundraise prep, FP&A, financial modelling, investor reporting, unit economics and cap table management.

Digital Asset Management Software Provider

Manama startup ecosystem

What makes Manama's startup ecosystem distinct - regulatory first-mover advantage, fintech sector depth and the government infrastructure that has created the GCC's most structured innovation sandbox.

The GCC's fintech regulatory pioneer

The Central Bank of Bahrain's regulatory sandbox - launched in 2017, the first in the GCC - has processed hundreds of fintech applications and produced fully licensed operators including Rain (crypto, $110 million Series B) and Tarabut Gateway (open banking, $32 million Series A, MENA's largest open banking platform by June 2024). The CBB's FinHub 973 hosts 430+ APIs and offers an open banking sandbox that international fintech teams use to test Gulf market product-market fit before committing to a full market entry.

Fintech, Islamic finance-tech and crypto lead

Bahrain's position as the GCC's historic Islamic banking capital - home to the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and 100+ licensed financial institutions - creates deep Islamic fintech expertise that is unique in the region. Rain operates the Gulf's first regulated crypto exchange from Bahrain. Tarabut Gateway provides the MENA open banking infrastructure layer. CoinMENA is a second CBB-licensed crypto exchange founded in Manama.

Bahrain Bay, Diplomatic Area and Bahrain FinTech Bay

Bahrain Bay is the waterfront financial district that houses the CBB, Bahrain Bourse and many of the licensed financial institutions whose licences Manama-based startups seek access to. The Diplomatic Area is the established commercial business district. Bahrain FinTech Bay (BFB) - on King Faisal Highway - is the dedicated fintech co-working and programme hub, now under Benefit's ownership, hosting the startup community and connecting them to the CBB and financial institution partner network.

University of Bahrain and expatriate finance talent

The University of Bahrain and Bahrain Polytechnic produce technology and business graduates, with additional talent drawing on the Bahrain-based operations of international banks and asset managers. Bahrain's position as a long-established regional banking hub - operating since the 1970s - means the city has decades of accumulated Islamic finance, treasury and compliance expertise available as senior hire or advisory talent for fintech startups.

Manama's landmark companies

Startups founded or licensed in Bahrain that have become the GCC's most-cited examples in crypto, open banking and fintech.

Rain

The GCC's first regulated cryptocurrency exchange, founded in Manama in 2017 and licensed by the CBB. Raised $110 million in Series B in January 2022 - the largest crypto fundraise in the Middle East. Operates the region's most liquid BTC/ETH spot market for institutional and retail clients across the Gulf.

Tarabut Gateway

MENA's largest open banking platform by June 2024, founded in Manama and CBB-licensed. Raised $32 million in Series A in 2023. Powers account aggregation and payment initiation for financial institutions across Bahrain and Saudi Arabia. In 2024 partnered with Tamkeen to provide IBAN verification services - the first open banking product integrated into a GCC government payroll system.

CoinMENA

Bahrain-founded and CBB-licensed crypto trading platform competing with Rain in the Gulf retail digital assets market. Supported by Alameda Research (prior to FTX collapse) and regional investors. Among the first GCC companies to receive both a CBB crypto-asset module licence and a Jordanian Central Bank authorisation.

Benefit Company

Bahrain's interbank network and national payment switch - not a startup but the fintech infrastructure layer that processes all Bahraini inter-bank transfers, ATM transactions and now the national open banking API stack. Benefit's 2023 acquisition of Bahrain FinTech Bay gives it direct influence over the startup ecosystem it sits underneath.

Manama's fintech and startup support infrastructure

Bahrain's government and regulatory bodies have built the GCC's most developed fintech-specific support infrastructure. These are the most material programmes for venture-backed founders choosing Manama as their regulatory base or GCC entry point.

CBB Regulatory Sandbox

CBB Regulatory Sandbox allows fintech, insurtech and crypto-asset companies to test regulated financial products under supervised conditions before applying for full CBB authorisation. Two graduates - Rain and Tarabut Gateway - have become the GCC's most-cited crypto and open banking companies respectively. The sandbox process typically runs 9–12 months and requires a demonstrable benefit to Bahrain's financial sector.

FinHub 973 (CBB open banking lab)

FinHub 973 is the CBB's dedicated digital fintech lab - the first of its kind in the MENA region when launched in 2020. Hosts 430+ open banking APIs from Bahraini financial institutions, providing a production-like testing environment for fintech products requiring account data and payment initiation access. The 973 refers to Bahrain's international dialling code.

Tamkeen

Tamkeen is Bahrain's Labour Fund - a government body that co-funds private sector employment and business development. For startups, Tamkeen provides payroll co-funding (covering a percentage of national employee salaries for up to three years), training grants, technology adoption grants and business development support. Tamkeen's co-funding programmes can materially reduce a Manama-based startup's burn rate in the early stages.

Bahrain FinTech Bay

Bahrain FinTech Bay is the GCC's first dedicated fintech hub, founded in 2018 and acquired by Benefit (Bahrain's interbank network) in 2023. Has hosted 116+ startups and provides co-working space, structured accelerator programmes and direct introductions to CBB officials, financial institutions and the Bahrain EDB. Benefit's ownership adds a unique distribution angle - Benefit processes Bahraini inter-bank transactions and salary payments.

Bahrain Economic Development Board (EDB)

Bahrain EDB is the government's inward investment agency, providing company registration support, regulatory navigation, access to Tamkeen programmes and introductions to CBB and Ministry of Finance. For international founders entering the Gulf via Bahrain, the EDB's one-stop-shop entity setup and banking introduction service significantly reduces the 3–6 month GCC market entry timelines typical of larger UAE and Saudi bureaucratic processes.

StartUp Bahrain

StartUp Bahrain is the national startup movement coordinating events, the national founder community and connections between the Bahrain EDB, Tamkeen and the CBB's innovation programmes. Operates the annual Bahrain Fintech Forum and maintains the directory of Bahrain-based startups, investors and accelerators - the primary first-touch resource for founders considering Manama as their GCC regulatory entry point.

Simple pricing

No hidden costs, no complicated long-term contracts. We understand how important flexibility is for Manama startups.

Core£4,000

Per month

Accounting / FP&A tech stack implementation
Monthly financial statements and reporting pack
Quarterly board pack with detailed financial analysis (with variance analysis vs. budget, relevant KPI observations etc.)
Investor-friendly output

Grow£8,000

Per month

Everything in Core, plus
Operating model (via an online platform like Runway or Excel-based)
Ongoing model maintenance, refining projections, burn/runway management
Customer cohorts modelling, churn and retention analysis
LTV / CAC, unit economics analysis
Cap table management

Pro£12,000

Per month

Everything in Grow, plus
M&A / fundraising support; review of business plan
Pitch deck preparation
Investor approach strategy / list building
Due diligence support and deal negotiation
Valuation as required and free access to Multiples Pro

Packages shown are illustrative, final pricing is tailored to client requirements.

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Got questions?

Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.

Unlike old-school financial advisory firms that are stuck in the past, we truly understand tech and challenges startups face. Decades of investment banking experience allow us to see bigger picture, strategically integrate into your workflows, and ultimately provide guidance towards an M&A exit or the next funding round.

Fractional CFO services in Manama