Qatar FinTech Hub maintains top position in Middle East ecosystem

17/06/21

Qatar FinTech Hub (QFTH) was ranked as the second largest FinTech investor in the MENA region in the first quarter of 2021.

The MENA Fintech Venture Report is MAGNiTT’s flagship report which reviews the sector’s quarterly performance. It examines investments in start-ups and scale-ups in 17 countries in the region including Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen.

The QFTH was founded by Qatar Development Bank (QDB) and other key stakeholders in line with Qatar Central Bank’s (QCB) FinTech Strategy. It collaborates and cooperates with partners from around the world to bring opportunities to the country and to bolster the growth of FinTech.

In 2020, QFTH launched the first incubator and accelerator programs which were very well received with more than 1,200 applications from around the world. The second wave is currently ongoing and QFTH will announce the second Demo Day soon. It is due to take place virtually and will feature 22 FinTech start-ups and scale-ups. The event will be an ideal platform for networking and will bring experts and specialists, professionals, influencers, institutional and individual investors together.

The participants of the second wave will receive up to QAR 910 thousand (USD 250 thousand) of financing or funding and in-kind development support to expedite their growth. Further, they will be entitled to company establishment assistance by the Qatar Financial Centre (QFC) and access to QCB’s regulatory sandbox.

One of the most recent success stories is Dibsy, a locally founded start-up which recently secured QAR 1.1 million (USD 300 thousand) in financing or funding to scale up operations and grow market share. The Qatar based company intends to revolutionize payment transactions and offers affordable, straightforward onboarding and fast integration. These features allow business owners to conveniently accept payments through their website, applications or messaging platforms.

Please click on the link and reach out to learn more about the Qatar FinTech Hub (QFTH) and the initiatives of Business Start Up Qatar.

Other News

BSUQ News 81 - Thumb - New

Qatar's foreign merchandise trade surplus hits QAR 17.7B

Qatar's foreign merchandise trade surplus for September 2024 stood at QAR 17.7 billion according to preliminary data from the National Planning Council.

In...

Read more
BSUQ News 80 - Thumb

Qatar's Government unveils Procurement Plan Forum 2025

Qatars Ministry of Finance, in collaboration with the Ministry of Commerce and Industry, Qatar Development Bank and Qatar Chamber, recently hosted the second edition...

Read more
BSUQ News 79 - Thumb - New

Qatars MoCI and Invest Qatar discuss private sector challenges

Qatars Ministry of Commerce and Industry (MoCI) recently joined forces with Invest Qatar to host the second annual Government Sector Forum. The Forum was attended by key government officials and saw participation...

Read more
BSUQ News 78 - Thumb - New

Qatar’s land transport sector Sees 75% surge in transactions

Qatar's land transport sector demonstrated remarkable growth in the first nine months of 2024 with the Ministry of Transport executing a total of 9,238 transactions. This marks a 17% increase from the...

Read more
BSUQ News 76 - Thumb - New

Qatar positioning itself as global business hub for investors

Qatar has established itself as a prominent global business hub, particularly in the real estate sector, reflecting the nation’s commitment to economic advancement and resilience. This dynamic market...

Read more
BSUQ News 75 - Thumb - New

Qatar`s TASMU Accelerator attracts over 640 applications

Qatar's Ministry of Communications and Information Technology (MCIT) recently closed registration for the 2024 cohort of the Smart Qatar - TASMU Accelerator programme. The scheme attracted over 640 applications...

Read more
BSUQ News 73 - Thumb - New

Qatar’s clean energy strategy targets renewables

Qatar’s future energy strategy aims to diversify into renewables, targeting a solar capacity increase to 5 Giga Watts (GW) by 2035.

Furthermore its strategy aims to leverages Qatar’s competitive...

Read more
BSUQ News 72 - Thumb

Qatar witnesses impressive growth in non-oil sectors

Qatar’s non oil revenues are expected to outperform all industries after recording growth of 2.2% this year, according to a report by Fitch Solutions. The company also indicated that numerous industries...

Read more

Page Break