Two African startups have been selected to participate in the second cohort of the Startupbootcamp FinTech Dubai.
The Startupbootcamp FinTech Dubai launched its first cohort in 2018 and it is backed by Dubai International Financial Centre (DIFC), HSBC, Visa, and Mashreq Bank.
The two African startups selected for the Startupbootcamp FinTech Dubai are South Africa’s SnapSlip, a digital receipts and analytics applications and Egypt’s Fawaterak, an online invoicing and payment platform between merchants and clients which integrates local and global payment networks.
The African startups alongside 8 others from across the world were chosen from more than 450 applications received to join the second cohort of the accelerator program.
“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 proofs-of-concept to validate their business models.”
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.