Startupbootcamp FinTech Dubai Accelerator hosted their Demo Day in Dubai on Tuesday, April 30th, with the participation of over 250 people among UAE’s industry leaders and international fintech experts in attendance.
The accelerator is supported by Dubai International Financial Centre (DIFC), Visa, HSBC and Mashreq, which have formed an alliance which looks to accelerate more than 30 fintech startups by 2020 in a bid to develop and strengthen the entrepreneurial ecosystem in MENA.
The 12-week acceleration programme, designed and coordinated by Startupbootcamp, culminated in the graduation of the first ten fintech startups on demo day, in which they showcased their progress. Startups consist of local and international entrepreneurs, hailing from 10 countries: UAE’s, Singapore, United Kingdom, Greece, France, Thailand, Ghana, Morocco, Ukraine, and the Czech Republic.
The startups’ areas of focus span across crowd lending, remittance, customer relationship management, financial education and inclusion, risk analytics, business valuation and payment processing technologies.
Pamela Attebery, Head of Innovation MENAT Technology at HSBC Bank Middle East said:
“We look forward to helping fintech startups shape their products at scale and expand their markets, while providing more established entrepreneurs with strategic guidance on market opportunities and trends.”
“Our aim is to explore options for collaboration to build innovative solutions which shape a better future for our customers and colleagues.”
Subroto Som, Head of Retail Banking Group at Mashreq, said,
“We recognize the value in innovation that empowers people and how it can be driver of success. The fresh thinking shown by these graduates has seen them tackle some of the biggest challenges faced by the financial services sector and it is enlightening to see how they have approached these issues.”
“Middle East’s fintech market is developing and emerging fast, significant difference will be visible in the next 2 to 3 years.”
The 10 startups in Startupbootcamp Fintech Dubai, 2019 Cohort
HubPay: A digital wallet for the remittance community aiming to offer faster and cheaper remittance while offering access to financial inclusion.
Fincluziv – A white-label SaaS that simplifies, automates and digitizes the entire process of salary and invoice advances to employees and suppliers of their corporate clients.
Nocofio – A crowd-lending marketplace that helps connect investors with farmers in need.
SynergyOne – The company offers an online lending and client scoring product that fuses predictive analytics, data science, artificial intelligence and machine learning.
Salutat – A company that helps financial institutions and microlenders automate and to improve digital customer experience via WhatsApp, and other similar channels in emerging markets.
Statys – Delivers risk analytics as-a-service, powered by artificial intelligence.Statys in parts looks to leverage alternative data to cater to previously underserved segments by allowing access to safe risk-managed finance.
UPUP – A free app that offers finance education for kids, and new clients for banks.
Billss – An AI-powered chatbot for retail banks to leverage their customer data and offer them a smoother experience.
Instaval – The company operates a valuation as a service tech service made to promote equity investments into startups and SMEs.
NoQ – A seamless mobile checkout solution for retailers to eliminate customer queuing, enable direct marketing, provide in-store data and inventory management optimisation.
