Meet the ten startups just graduated from the Startupbootcamp FinTech Dubai Accelerator
Source: Rainmaking for Startupbootcamp , Author: Posted by BI-ME staff
Posted: Thu May 2, 2019 1:37 pm

UAE. Startupbootcamp FinTech Dubai Accelerator, the leading FinTech Accelerator in the MENA region, 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 keen to discover the next best-in-breed FinTech entrepreneurs.

The Startupbootcamp FinTech Dubai Accelerator is supported by Dubai International Financial Centre (DIFC), Visa, HSBC and Mashreq, which have proudly formed an alliance towards developing and strengthening a robust entrepreneurial ecosystem in the MENA region and accelerate more than 30 FinTech startups by 2020.

The 12-week acceleration programme, designed and coordinated by Startupbootcamp, culminated in the graduation of the first ten FinTech startups showcasing at the Demo Day the progress they had made over the program. 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.

Through working with corporate partners, world-class experts, and mentors from the Startbootcamp international network,, startups have addressed big problems in emerging markets both in the MENA region and globally.

Todd O’Brien, CEO of Startupbootcamp MENA, commented: “I have been impressed by the first cohort of the Startupbootcamp FinTech Dubai Accelerator. Startups brilliantly addressed real market problems around financial inclusion, risks assessments, payments, lending and remittances. All startups have developed great synergies with our corporate partners, leading up to fifteen proofs of concept that find solutions or improvements to existing technologies and products. At Startupbootcamp, we’re currently running Fintech accelerators and scale programs in many key hubs around the world and we’re very proud of enabling some of the best startups to refine their business models and build strategic partnerships with leading financial institutions like DIFC, Visa, HSBC and Mashreq.”

Otto Williams, Vice President, Head of Strategic Partnerships, Fintech & Ventures, Central and Eastern Europe, Middle East and Africa, at Visa, said: “We are delighted to be part of this program and to see the solutions presented today – innovative solutions to real problems that could potentially help transform the payments landscape and deliver benefits to consumers, merchants and banks alike. We are proud to partner with Startupbootcamp on the FinTech startup accelerator program to help foster an entrepreneurial ecosystem where innovators from across the region and around the world can thrive and to enable a smart economy powered by secure, innovative digital payment solutions.”

HSBC UAE is pleased to tie-up with Startupbootcamp to foster innovation and entrepreneurship through mentoring of young technology companies”, commented Pamela Attebery, Head of Innovation MENAT Technology at HSBC Bank Middle East. “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. This initiative is further fueling creativity and expertise in the region. We will continue work closely with Startupbootcamp to explore new ideas and innovative solutions that improve people’s lives, support the Government’s technological vision and drive economic success across MENA.”

Salmaan Jaffery, Chief Business Development Officer at the DIFC Authority, said: “Our collaboration with industry leaders like Startupbootcamp reflects our commitment towards driving the future of finance and supporting the development of viable fintech solutions across the MEASA region. Emerging markets across the region are primed for financial inclusion and DIFC is playing a key role in this sphere by providing an enabling ecosystem and access to the largest pool of financial service talent in the region.”

The ten companies accelerated in the 2019’s cohort of the Startupbootcamp FinTech Dubai Accelerator are:

- HubPay - The digital wallet for the remittance community; faster, cheaper and providing access for financial inclusion.
Founders: Kevin Kilty
Sector: FinTech, Remittance; B2C
https://www.hubpay.ae/

- Fincluziv - White-label SaaS that simplifies, automates and digitizes the entire process of salary and invoice advances to employees and suppliers of their corporate clients.
Founders: Bruno Gremez, Samir Kasmi
Sector: FinTech; B2B
https://www.fincluziv.com/

- Nocofio - Crowd-lending platform that connects finance to farmers.
Founders: Akwasi Tagoe, Lovell Larbie
Sector: FinTech, AgriTech
https://nocofio.com/

- SynergyOne - Online lending and client scoring products.
Founders: Oleg Shram, Fred Pollack, Olga Velikaya, Alexey Tsibilyuk
Sector: FinTech, Alternative Lending; B2C
https://synergyone.pro/en

- Salutat - Automates and improves digital customer experience via WhatsApp and other channels, working in partnership with emerging markets’ financial institutions.
Founders: Mike Driver, Sam Upra
Sector: FinTech, Client Management; B2B
https://www.salutat.io/

- Statys - Delivers risk analytics as-a-service, powered by artificial intelligence.
Founders: Pierre Proner, Flinn Dolman, Jaime van Oers
Sector: FinTech; B2B
https://statys.ai/

- UPUP - Finance education for kids and new clients for banks.
Founders: Roman Potemkin, Maryna Potemkina, Dmytro Gusev, Yaroslav Golovach
Sector: FinTech, EdTech; B2B
https://upupapp.com/

- Billss - AI-powered chatbot for retail banks to finally leverage their customer data and offer them a smoother experience.
Founders: Arthur Maisonnier, Jessica Scianimanica
Sector: FinTech, B2B
https://www.billss.co/

- Instaval - Valuation as a service technology made to promote equity investments in startups and SMEs.
Founders: Akram El Youssi, Yasir Tahir, Yaser Kanouni
Sector: FinTech, B2B
https://www.instaval.co/

- NoQ - A seamless and secure mobile checkout solution for retailers to eliminate customer queuing, enable direct marketing, provide in-store data and inventory management optimization.
Founders: Mohammed Saadat, Nick Vamvoukakis
Sector: FinTech, Retail
http://www.no-q.io/

Photo Captions:
1. (above)  Startupbootcamp FinTech Dubai DemoDay - Image Credits: Creighton O’Brien
2. (inset)    Todd O’Brien, CEO of Startupbootcamp MENA

About Startupbootcamp
Launched in 2014, Startupbootcamp FinTech is the leading global FinTech accelerator focused on innovation for the financial services industry. Based in London, Singapore, New York, Mexico City, Amsterdam, Cairo and Dubai, each program is supported by a network of leading financial players as well as an extensive mentor and alumni network from more than 30 countries across the globe. Startupbootcamp FinTech is part of the global award-winning Startupbootcamp, a network of industry-focused startup accelerators.

For more information, visit: http://www.startupbootcamp.org.

The Startupbootcamp FinTech Dubai program is supported locally by Dubai International Financial Centre (DIFC), Visa, HSBC and Mashreq.
Twitter: @sbcFinTech
LinkedIn: https://www.linkedin.com/company/startupbootcamp-fintech

About Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is one of the world’s top financial centres, and the leading financial hub for the Middle East, Africa and South Asia. The Centre provides a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas and facilitates growth in South-South trade and investment. An onshore, international financial centre, DIFC offers a stable, mature and secure base for financial institutions to develop their wholesale businesses.
 
The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator and judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.
 
Located midway between the global financial centres of New York, London in the West and Singapore, Hong Kong in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.
 
In 2015, DIFC launched its 2024 growth strategy, a blueprint for the next decade of growth of the financial hub. This strategy aims to stimulate trade and investment flows along the South-South economic corridor encompassing the Middle East, Africa, Southern Asia and Latin America.

Currently, 2,003 active registered companies operate from the Centre, with a combined workforce of 22,768 professionals.

DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 3 billion and nominal GDP of US$7.7 trillion.
 
For further information, please visit our website: difc.ae, or follow us on Twitter @DIFC.

About Visa
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second.

The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere.  As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce.

 For more information, visit  www.visamiddleeast.com, www.visanewsmena.tumblr.com or follow us on Twitter @Visamiddleeast.


About HSBC in the MENAT Region
HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in 9 countries across the region.  HSBC has operations in the United Arab Emirates, Egypt, Turkey, Qatar, Oman, Bahrain, Kuwait and Algeria. In Saudi Arabia, HSBC is a 40% shareholder of Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom.

This presence, the widest reach of any international bank in the region, comprises some 350 offices and around 10,500 employees. In the year ending 31st December 2018, HSBC in the MENAT region made a reported profit before tax of US$ 1,557m.


About Mashreq
Established in 1967, Mashreq is the oldest Bank in the UAE with award-winning financial solutions and services. Throughout its 50 years’ history, Mashreq has differentiated itself through innovative financial solutions, making it possible for its customers to achieve their aspirations. Today, Mashreq has a significant presence in 11 countries outside the UAE with 26 overseas branches and offices across Europe, USA, Asia, and Africa. Mashreq launched its new Vision and Mission in 2016, outlining its commitment towards its clients, colleagues and the community.

In line with its new Vision to be the region’ s most progressive bank,
Mashreq leverages its leadership position in the banking industry to enable innovative possibilities and solutions for its customers across Corporate, Retail, International, Treasury and Islamic Banking. Mashreq is proud to be the first financial institution in the UAE to be awarded the Gallup Great Workplace Award for fifth consecutive years from 2014-2018. Mashreq also continues to invest in recruiting, training and developing future generations of UAE National bankers.

 

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