Fintech Startupbootcamp Dubai Selects 10 Startups For 2020by Fintechnews Middle East 22. January 2020
Startupbootcamp FinTech Dubai just announced the ten startups selected for their second cohort. The accelerator program launched its first cohort in 2018 and it is backed by UAE’s FinTech leaders, Dubai International Financial Centre (DIFC), HSBC, Visa and Mashreq Bank.
After four months of rigorous recruitment period, and more than 450 applications received, 10 startups were selected to join Startupbootcamp FinTech Dubai’s second cohort. The new cohort features startups from the UAE, Singapore, USA, India, Finland, Egypt, Uzbekistan, South Africa, Kazakhstan, and Lebanon.
“We are very proud of the success of our first cohort and excited to announce that for our second cohort, we attracted some of the world’s most prominent FinTech startups in the fields of payments, lending, Islamic digital banking, employer gratuity management and others”
said Khaled Lababidi, Managing Director of Startupbootcamp FinTech Dubai.
“The 10 teams will go through an intensive three-month acceleration program, in the heart of the DIFC and will work with top-notch mentors and corporate partners to secure proof-of-concepts to validate their business models.”
The 10 selected for the 2020 cohort are:
Coil Pay (USA)
a bank-issued smartwatch designed for payments at zero cost to the end consumer.
a platform-as-a-service that reduces credit risk for lending companies on ‘New to Credit’ customers by converting their smartphones into a virtual collateral
an intelligent data management platform built specifically for the due diligence process.
a cloud-based platform that helps SMEs design, implement and report their employee’s end of service gratuity plans.
an online invoicing and payment platform between merchants and clients which integrates local and global payment networks.
Lending Star (Singapore)
marketplace connecting SMEs and investors to enable supply-chain financing
a platform-as-a-service that makes it possible to accept non-cash payments via mPoS and tap-on-phone where there is a lack of internet connectivity
SnapSlip (South Africa)
digital receipts and analytics applications.
an Islamic digital bank that makes everyday money management easy in a shariah-compliant way.
Trade Quant (Lebanon)
an equity investment portfolio management application that manages your investments using a Quantitative Investment Model (QIM) and Artificial Intelligence (AI)
The startups will now participate in the three-month extensive FinTech program starting in January 2020 and culminating with Demo Day, where they will pitch their projects to the region’s top investors for an opportunity to raise funds and sign pilot collaboration projects.
Corporate partners play a pivotal role in the Startupbootcamp FinTech program, and they have all shown their excitement and support for the new cohort.