Abu Dhabi Accelerator Hub71 Accepts 7 Fintech Startups for Its New Cohort17. May 2022
Hub71, Abu Dhabi’s global tech ecosystem, has accepted 7 fintech startups to join its growing community as part of accelerating the Emirate’s position as an innovation hub.
The cohort which comprises a total of 16 startups, which has already raised more than AED 231 million in funding, will have the opportunity to develop advanced technologies and gain access to the market, investment, and talent that Hub71 provides.
The cohort includes early-stage startups with diverse representation from international tech hubs including the UK, USA and South Korea.
They will benefit from Hub71’s accelerator programme and a new range of flexible incentives, that allow founders to choose the level of support based on their startup needs.
By joining Hub71, the cohort will gain access to Abu Dhabi’s innovation ecosystem with opportunities to scale and facilitate knowledge exchange.
Since its inception, Hub71’s startups have raised AED 1.5 billion of investment and landed deals worth AED 36 million through the tech ecosystem’s corporate partners, while also generating approximately AED 1.2 billion in revenue.
More than 20 proofs of concepts (POCs) were signed between corporate partners and startups, generating an expected deal value of AED 36 million.
Badr Al-Olama, Acting CEO of Hub71 said,
“Our first cohort of the year reflects our ambition of matching our pace with that of global tech startups that have the highest growth potential.
What makes Hub71 so different is our founder-centric approach that puts emphasis on building leaders and teams to sustain exponential growth for startups.”
Here are the 7 fintech startups in Hub71’s cohort:
BridgerPay is the world’s first Payment Operations Platform, built to automate the payment flows of any business, anywhere.
Zywa is the first neobank tailored for teenagers in the Middle East and North Africa.
Genify engineers AI solutions and harnesses financial data to sublimate user experience.
FinFlx is the first comprehensive gratuity platform in the MENA region to automate gratuity management, forecasting, and reporting while providing employees access to personalized gratuity savings plans and financial education.
Trade Capital Partners is a digital trade finance company based in Abu Dhabi, UAE. The company offers working capital solutions to small- and medium-sized companies and growth startups in emerging markets using innovative technology and data analytics.
TAG is building Pakistan’s first truly global financial app. In 2020, TAG arrived on the scene in Pakistan offering E-Money Account with a Debit Card. Today, TAG aim’s to be the first account of millions of unbanked Pakistanis.
Purpl is a remittance and cash out aggregator that seeks to democratise cross border money transfer flows and enable financial inclusion in Lebanon and the MENA region.
Featured image credit: Hub71
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