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Whish Money Gains Canadian Licenses In Global Expansion Push
The Lebanese fintech takes its first step beyond the MENA region with regulated entry into North America.
Lebanon’s Whish Money has been granted financial services licenses in Canada, its first regulatory approval outside the MENA region and the opening move in a wider expansion plan. The fintech is now seeking licenses in the US, UK, EU, and Australia, aiming to build fully regulated operations in each market rather than rely on agent networks or third-party partners.
The company said the Canadian approval gives it a regulated base for North America and confirms its strategy of direct, in-country licensing — a model it says ensures control over customer experience, compliance, and security. The approach contrasts with many regional money transfer operators that operate under lighter agent models or partner licenses.
“Securing our Canadian license is a monumental step that validates our compliant, customer-focused model and sets the foundation for our international expansion,” explained Toufic Koussa, chairman of the board at Whish Money. “This move is about more than just entering a new market; it’s about strategically connecting high-diaspora communities with reliable financial infrastructure, beginning with North America. We are committed to building a regulated, transparent global ecosystem that truly serves our users”.
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Whish Money, headquartered in Beirut and regulated by the Central Bank of Lebanon, came to prominence during Lebanon’s financial collapse, providing digital payroll, transfer, and bill-payment tools when banks were paralyzed. It now counts more than 1.5 million users and operates through over 1,200 agents in Lebanon and 3,000 points of sale in the UAE, according to company figures.
The firm’s network includes partners such as Visa, Mastercard, Ria, and Terrapay, strengthening its cross-border payment system. With the Canadian licenses secured, Whish Money is positioning itself to shift from a regional payments player to a regulated global platform linking diaspora markets worldwide — a move that underlines the growing push by MENA fintechs to formalize their reach into mature, highly regulated markets.
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AltoVolo Opens Orders For Limited Edition Sigma eVTOLs
Early buyers can now reserve build slots for AltoVolo’s 500-mile hybrid aircraft through a new online configurator.
AltoVolo has started taking pre-orders for its first electric vertical take-off and landing aircraft, the Sigma, moving the startup closer to commercial rollout. Customers can now secure a build slot with a £860 deposit and customize every detail online — from paintwork to seatbelt stitching. It’s the first configurator of its kind for a civilian eVTOL, mirroring how luxury car brands let clients tailor performance models before production.
The Sigma runs on a hybrid-electric tilting jet system built for long range and low noise. It can travel up to 500 miles at a 220-mph cruise, and is over 80% quieter than a helicopter. The three-seater weighs just 980kg and can maintain stable flight even if one jet fails. Safety systems include triple-redundant controls, thrust-vectoring stability and a ballistic parachute.
“We will be delivering an ultra-refined hybrid electric aircraft,” said founder and CEO Will Wood. “We believe there are thousands of customers for this type of cutting-edge technology”.
The first 100 units will come with exclusive materials and finishes. AltoVolo is also setting up a global service and maintenance network, with early planning for overhaul schedules already underway. The company’s focus on ownership experience echoes its ambition to anchor itself alongside established aviation brands rather than pure tech ventures.
To help new owners train, the company has built a full-scale simulator that replicates the Sigma cockpit in carbon fiber and leather. Pilots can log time toward a license using the system, aligned with the new US MOSAIC rules that ease certification for powered-lift aircraft. Certification work in Europe and the UK continues in parallel, signaling growing international alignment around light sport and eVTOL regulation.
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Noise inside the cabin has become another design focus. Engineers are refining internal vibration levels and developing a responsive soundscape that shifts with each jet’s power load — part feedback, part theatre.
Urban air mobility projects across the Gulf and elsewhere are pushing regulators and manufacturers to meet in the middle. Dubai, Riyadh and Doha have each outlined plans for air taxi corridors this decade. AltoVolo’s hybrid Sigma, sitting between electric promise and aviation realism, looks built for that middle ground.
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