The DIFC FinTech Hive has announced 17 fintech startups from across the globe that have been selected for the fourth cohort of its accelerator programme.
Out of the 17, only two African fintech startups which are Kenya made the fourth cohort. They are Asante Financial Services Group and OkHi.
Since its launch in 2017, DIFC FinTech Hive has nurtured FinTech innovation with a total of 1,400 applications received for its signature programme.
More than 100 startups have been selected to participate in the accelerator programme.
Participants were selected through an intensive, competitive process to participate in a 14-week curriculum that helps growth-stage start-ups expand in the MEASA region.
In addition to UAE talent, the 2020 cohort had a truly global feel given it included start-ups from Africa, Asia, Europe, the GCC and North America.
The start-ups cover a broad range of sectors such as FinTech, RegTech and Islamic FinTech. They address key technology innovation themes including Open Banking (APIs), Artificial Intelligence, Anti Money Laundering (AML) and Data Analytics.
Raja Al Mazrouei, Executive Vice President at DIFC FinTech Hive, said: “The solutions sourced for this year’s DIFC FinTech Hive Accelerator programme have been very unique and mature. The participants have developed technologies which will help shape the future of finance and are worthy of investment.
“This year’s cohort has worked relentlessly with our partners to ensure they are ready to be connected with investors and industry experts at the Investor Day. We would like to congratulate the start-ups on successfully completing the programme and look forward to helping them grow further from DIFC.”
DIFC FinTech Hive helps startups tailor their technologies to meet local demand and enter the Middle East, Africa and South Asia (MEASA) market with innovative ideas whilst tapping into a network of financial industry leaders to enable implementation and adoption of these technologies by the partnering financial institutions.
Asante Financial Services Group
Asante is a high-impact digital financial services firm that focuses on facilitating financial independence for underserved businesses and individuals.
OkHi is a digital addressing system for emerging markets. Their mission is to enable the four billion people without a physical address to be included in accessing the services they need.