Qatar FinTech Hub (QFTH), co-founded by Qatar Development Bank (QDB) has announced the final list of successful FinTechs to join Wave 2 of its Incubator and Accelerator Programs. Both Programs started on 24 March and will run until June 2021.
QFTH received more than 500 applications from early stage and mature FinTechs from over 58 countries, including USA, India, Singapore, Nigeria, Russia, Hong Kong, UK, Turkey, and Qatar.
The applications went through a rigorous and multilevel evaluation process, where over 40 FinTechs were shortlisted to present their solutions via virtual pitch days judged by a panel of representatives from QFTH stakeholders and strategic partners. Out of the 40 Fintechs, the top 22 were selected and invited to participate in the Incubator and Accelerator Programs. Selected FinTechs covered a variety of technology solutions such as AI, ML, Blockchain, RPA, NFC, NLP, OCR and other FinTech solutions.
Eleven early stage FinTechs were also selected to join Wave 2 of the Incubator Program including Snoonu Trading and Services as well as Karty from Qatar, Cammillion from Singapore, ePaysa from India, Digitalistic from Bangladesh, Akillifon from Turkey, CHANGE COM from Jordan, Kwidex from Ghana, Nu Credits as well as Bondsmart and Finstant from the UK.
The 11 mature FinTechs selected for Wave 2 of the Accelerator program are Prive T from Hong Kong, Active.AI as well as Finchat from Singapore, eBaoTech from China, SafexPay from India, Twyla Technology from Qatar, FinChatBot from South Africa, Cargon from Georgia, Invest Suite from Belgium, Elite Capital, and Revix from the UK.
Commenting on the start of the programs, Abdulaziz bin Nasser Al Khalifa, Chief Executive Officer of QDB and Fintech Task Force Chairman, said “I would like to congratulate all the FinTech startups whose leadership in innovation has enabled them to join our flagship programs. This marks the beginning of their journey towards reshaping the future of financial technology in Qatar and beyond, and we are confident they will help us in building solid pillars for a knowledge-based economy in Qatar.”
“The Qatar FinTech Incubator and Accelerator Programs continue to attract entrepreneurs from around the world, establishing Qatar as a preferred destination for Fintechs looking to establish a base in the region,” concluded Nasser Al-Khalifa.
For a period of 12 weeks, Wave 2 will offer participating FinTechs a unique incubation and acceleration journey with all the essential support required to establish their businesses locally and to grow regionally and internationally.
Each participating FinTech will receive financial and in-kind support of up to $250,000, in addition to bespoke mentoring and training services provided by QFTH, its strategic partners and mentor network of over 36 international and local mentors.
