USD 9.25 Million in Investments Committed to Start-ups during FinTech World Cup at Dubai FinTech Summit

15 Regional finalists pitched at the FinTech World Cup (FWC) grand finale during the Dubai FinTech Summit

Dubai, 14 May 2024: The much-awaited Grand Finale of the FinTech World Cup (FWC) hosted by Trescon in partnership with Dubai FinTech Summit (DFS), VISA, Emirates NBD & Amazon Web Services (AWS), witnessed committed investments totalling worth over USD 9,250,000 (9.25 million) by various investors.

In an intense showdown, 15 qualified start-ups from around the world – Audax, Xaults Technologies, Monak E-Services, YABX, ALTPAYNET, APPRO, Libeara, Letbloom, Myzoi, Vault22, Lordsystem, MOIN, Alphastream.ai, Validus, and Namara – pitched at the FWC Grand Finale to a room full of global investors during the 2^nd day of DFS.

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While APPRO emerged as the Winner of FWC and secured on the spot investment commitment of USD 500,000, other startups like Finix196 received commitment of USD 5 million by Dhruv Management, Motive Partners committed USD 3 million to Alpha Stream and Validus got commitment of USD 750,000 by Aum Ventures.

Mohammed Saleem, Founder and Chairman of Trescon, stated, “We were thrilled to host the Grand Finale of our FinTech World Cup at the Dubai FinTech Summit. By joining forces, we created an unparalleled platform for FinTech innovation, providing participants with access to Trescon’s international reach, a regulatory environment that fosters growth and most importantly access to much needed capital. As an FWC Jury Member & a fellow investor, I commit to investing in some of these start-ups too to walk the talk, including the USD 500,000 for FWC Grand Finale Winner Appro.”

Naveen Bharadwaj, Group CEO of Trescon, said, “The FinTech World Cup is an opportunity to solve real-world challenges through collaboration and capital. In addition to the investments totalling worth USD 9.25 million that were announced, I’m happy to share that the winner & first two runner ups will also gain access to mentorship by the esteemed jury, Trescon Credits & Amazon credits – enhancing their resources for growth and development, global brand exposure, industry recognition and a path to success through strategic synergies and partnerships. We are committed to shaping an ecosystem that not only celebrates FinTech excellence but also propels the industry forward.”

The FWC jury was comprised of distinguished professionals from various sectors of the FinTech industry, including Nasir Zubairi, CEO at The LHoFT Foundation; Hugo Bongers, Partner at Motive Ventures; Sara Tabana, Senior Director of FinTech Innovation Strategy at Visa; Melissa Cannon Guzy, Co-Founder and Managing Partner at Arbor Ventures; Mohammed Saleem, Founder and Chairman of Trescon; Chetan Mehta, Founding Partner at AUM Ventures; Rana Abdel Latif, Partner at Speedinvest; Nacira Alioua, Head of FinTech Engagement at Emirates NBD; and Tunc Ozgul, Head of Startup and VC Ecosystem at Amazon Web Services.

The 2^nd edition of the Dubai FinTech Summit was supported by global corporate partners, including Founding Partners VISA, Emirates NBD (ENBD), Etisalat & (E&) and Commercial Bank of Dubai (CBD).

About Dubai FinTech Summit

Dubai FinTech Summit is an annual mega event organised by the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region. The 2^nd edition of the Dubai FinTech Summit will bring together over 8,000+ global industry leaders, 1,500+ investors and policy makers, signalling increased appetite for growth opportunities in the region.

Dubai FinTech Summit signals new wave of financial innovation, opportunity, transformation, and growth for the international financial services sector. As a rising FinTech hub, Dubai is also spearheading the evolution of the financial services industry, with investments in FinTech projected to grow by 17.2 per cent CAGR to USD949 billion from 2022 to 2030. The Summit aligns with the Dubai Economic Agenda D33’s strategic goal of propelling Dubai into the ranks of the top four global financial hubs by 2033.

The expanded programme of Dubai FinTech Summit is set to exceed expectations by delving into key tracks, including the future of FinTech, embedded and Open Finance, climate finance, Web3 and digital assets. The summit stands as a thought leadership-driven platform, addressing industry challenges head-on and championing innovation.

Visit www.dubaifintechsummit.com