Startupbootcamp Fintech Dubai 2020 has selected Egypt’s Fawaterak and South Africa’s SnapSlip to join this year’s cohort.
Startupbootcamp FinTech Dubai 2020 selected 10 startups. Fawaterak is an online invoicing and payment platform between merchants and clients which integrates local and global payment networks while SnapSlip is a digital receipts and analytics application.
Other startups selected into Startupbootcamp FinTech Dubai for their second cohort are listed below. 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.
Khaled Lababidi, Managing Director of Startupbootcamp FinTech Dubai said, “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.”
Eight others selected for the 2020 cohort are:
- Coil Pay (USA): a bank-issued smartwatch designed for payments at zero cost to the end consumer.
- Datacultr (India): 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
- DD-Ready (Finland): an intelligent data management platform built specifically for the due diligence process.
- ePension (UAE): a cloud-based platform that helps SMEs design, implement and report their employee’s end of service gratuity plans.
- Lending Star (Singapore): marketplace connecting SMEs and investors to enable supply-chain financing
- Marta (Uzbekistan): 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
- Tayyab (Kazakhstan): 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.