Happy Wednesday everyone!

Wearable technology expansions, high-level financial dialogues, and wealth management projections lead regional business updates. Human performance firm WHOOP, founded by Egyptian-American entrepreneur Will Ahmed, launched an Arabic version of its fitness tracking application to support a 75% year-on-year membership surge across the GCC. In Abu Dhabi, Sheikh Tahnoon bin Zayed Al Nahyan met with Morgan Stanley Co-President Dan Simkowitz to discuss capital requirements for expanding regional artificial intelligence systems and evolving public markets. Meanwhile, a report by Boston Consulting Group projects the UAE's total net wealth will reach $6 trillion by 2030, driven by real assets and AI adoption across wealth management firms.

Markets

WHOOP Launches Arabic App Following 75% Membership Surge Across the GCC

🔹 What Is It About 

Human performance company WHOOP, founded in 2012 by Egyptian-American entrepreneur Will Ahmed, launched an Arabic-language version of its health tracking mobile application. The localized release allows users to monitor sleep, physical strain, and recovery metrics in their native language as membership across GCC markets expands more than 75% year-on-year. The app update coincides with WHOOP establishing a dedicated regional office in the UAE and outlining plans for a research and development center in Qatar, following a $575 million funding round that valued the startup at $10.1 billion.

• Launching Arabic Tracking: WHOOP localized its app interface to deliver health and recovery metrics in Arabic.

• Expanding GCC Membership: Regional subscriber counts grew by more than 75% year-on-year across Gulf markets.

• Securing Investor Backing: The firm's $10.1 billion valuation is supported by Mubadala, Qatar Investment Authority, and Cristiano Ronaldo.

🔹 Why It Matters 

Introducing localized software across high-growth markets helps global digital health platforms retain subscribers while scaling subscriptions. Expanding physical office infrastructure in the UAE and Qatar connects health technology providers directly with regional research partners and capital funds. Securing equity backing from Gulf sovereign funds provides long-term capital to build localized features and expand distribution networks.

🔹 What’s Next 

WHOOP product teams will roll out additional localized software features while operational leads establish the Qatar research facility. Commercial managers will expand corporate wellness partnerships across health and athletic organizations in the region.

• Establishing Qatar R&D: Engineering leads will recruit researchers for the planned sports performance center.

• Expanding Corporate Partnerships: Sales teams will partner with regional health organizations and athletic teams.

Sheikh Tahnoon and Morgan Stanley Co-President Discuss AI Capital and Public Markets

🔹 What Is It About 

HH Sheikh Tahnoon bin Zayed Al Nahyan met with Morgan Stanley Co-President Dan Simkowitz to discuss capital deployment across global artificial intelligence networks and financial markets. Discussions focused on funding requirements for scaling computing infrastructure, the impact of AI on investment decision-making, and changing dynamics across initial public offering markets. The leaders also reviewed the growing role of digital assets within wealth management platforms and shifting institutional investor preferences.

🔹 Why It Matters 

High-level meetings between Gulf sovereign leaders and top Wall Street executives shape cross-border capital allocations toward critical technology and infrastructure sectors. Aligning investment strategies helps financial institutions channel private and sovereign capital into computing centers and energy infrastructure. Evaluating public market trends ensures regional issuers structure capital raises to attract international institutional demand.

• Directing Global Capital: Strategic dialogues align sovereign and institutional funds toward digital infrastructure.

• Adapting Wealth Models: Evaluating digital assets helps wealth managers build modernized investment frameworks.

🔹 What’s Next 

Morgan Stanley advisory teams will continue collaborating with regional sovereign funds on infrastructure debt and equity deals. Financial regulators will monitor market conditions to identify appropriate listing windows for upcoming regional IPOs.

UAE Total Wealth Reached $3.6 Trillion as BCG Projects Growth Toward $6 Trillion by 2030

🔹 What Is It About 

A report by Boston Consulting Group (BCG) revealed that total net wealth in the UAE reached $3.6 trillion in 2025, with projections estimating it will approach $6 trillion by 2030. Financial wealth reached $1.4 trillion while real assets grew to $2.4 trillion, supported by strong inflows of foreign capital and high-net-worth residents. BCG highlighted that wealth management firms deploying AI-first operational models can achieve 25% to 30% capacity gains across administrative workflows while expanding advisor revenue.

• Tracking Wealth Expansion: UAE total net wealth hit $3.6 trillion in 2025 and is projected to reach $6 trillion by 2030.

• Growing Wealth Segments: Lower high-net-worth individuals ($1M–$20M) are projected to hold 31.5% of financial wealth by 2030.

• Deploying Wealth AI: AI adoption is expected to increase advisor productivity and capacity by up to 30%.

🔹 Why It Matters 

Rapid accumulation of real assets and financial wealth positions the UAE as a leading global wealth booking center for international clients. The expanding base of affluent and high-net-worth residents increases demand for sophisticated financial planning and private banking services. Adopting AI tools across wealth management operations helps financial firms manage growing client bases without diluting advisory quality or expanding operational overhead.

• Attracting Overseas Wealth: High wealth growth strengthens the UAE's role as a global private banking hub.

🔹 What’s Next 

Wealth management firms across the UAE will redesign internal workflows around AI agents to automate financial planning and compliance tasks. Financial institutions will expand private banking teams to capture growing wealth pools across lower high-net-worth demographics.

• Integrating AI Workflows: Private banks will deploy automated tools to handle compliance and portfolio rationales.

👨‍💻From Smashi Business’ Desk

• Dubai-born fragrance brand KAYALI will enter China on October 15.

• Saudi-born dining platform SPICE has ruled out offering cashback on shisha or alcohol at partner restaurants as it keeps its rewards model aligned with Islamic principles.

• Uber will invest $50 million in Jordan over the next three years, targeting the country’s mobility ecosystem while supporting economic opportunities, tourism and access.⁠

• Dubai Crown Prince HH Sheikh Hamdan just shared his Etihad Rail ticket on Snapchat as Dubai-Abu Dhabi passenger services prepare to launch on September 30.

🔍In other news…

• Phoenix Venture Partners: Abu Dhabi VC closes debut fund at $23M from 42 investors.

• MENA Q3 Funding: Startups raise $1.65B across 145 deals, up 108% from Q2.

• MNT-Halan IPO: Retail tranche is 2.68x covered, with EGP3.16B in orders for EGP1.18B.

• Kraken UAE Launch: Payward gets VARA approval as Kraken prepares to launch with AED pairs.

• 3iQ Gets Approval: Digital asset manager receives in-principle FSRA approval for an ADGM licence.

• du Pay × talabat: du Pay becomes the payments and wallet partner for talabat’s UAE fleet riders.

• Sheraa Women Fellowship: 14 women founders selected for the six-month Sharjah Women Impact Fellowship.

• Shams Launches Bedaya: Sharjah Media City launches its new initiative.

🦄 World of Startups

• Echelon: Riyadh AI firm Echelon names East40, RAED Ventures, Avra and Ben Horowitz as backers.

• MNT-Halan: MNT-Halan prices its EGX IPO at EGP 24.50 per share, valuing the 20% stake at EGP 7.84 billion.

• Project Suppliers: Saudi platform Project Suppliers raises $1 million in pre-seed funding to develop AI cash-flow tools.

• MoneyHash × VaultsPay: MoneyHash merchants can now accept VaultsPay’s UAE card and wallet payments without separate integration.

• TiE Women MENA: Five startups win regional TiE Women MENA tracks and advance to the GITEX Global final.

• Sheraa × Nestlé UAE: Sheraa, Nestlé UAE, MAJRA and UAE Food Cluster launch a three-month programme for young founders.

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