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 104 - Thumb

M7 and QSTP partner to target Qatar’s fashion and design sectors

M7 and Qatar Science & Technology Park (QSTP) have announced a partnership to strengthen Qatar`s entrepreneurship ecosystem.

The agreement provides for M7, an affiliate...

Read more
BSUQ News 103 - Thumb

Contracts in construction at the top of the mega projects in Qatar

A Qatar International Centre for Conciliation & Arbitration (QICCA) webinar discussed...

Read more
BSUQ News 102 - Thumb - New

Bedaya and stakeholders equip entrepreneurs on their journey in Qatar

The Bedaya Centre for Entrepreneurship & Career Development recently concluded a series of workshops as part of their ongoing foundation program.

The workshops were delivered online with the object...

Read more
BSUQ News 101 - Thumb - New

QFTH ends second wave of incubator and accelerator with demo day

Qatar FinTech Hub (QFTH) recently held the virtual Demo Day for the second wave of the incubator and accelerator program.

The major FinTech event hosted key players from Qatar’s ecosystem as well...

Read more
BSUQ News 100 - Thumb - New

A snapshot of the venture capital market in the State of Qatar

Qatar`s venture capital market has proven to be resilient despite the pandemic according to the most recent data and information.

The Qatar Venture Investment Report 2020...

Read more
BSUQ News 99 - Thumb - New

Qatar raises awareness for best practices in circular economy

The Josoor Institute held a webinar discussing the circular economy, an economic approach aimed at minimising waste, very recently.

The Josoor Institute is...

Read more
BSUQ News 98 - Thumb - New

Stakeholders in Qatar reiterate their commitment for tourism and travel

The State of Qatar has revealed an ambitious National Tourism Strategy which aims to position the country as a leading destination for tourism and travel.

Qatar has a lot to offer...

Read more
BSUQ News 97 - Thumb

Takeaways and lessons learned from the first Qatar Economic Forum

The Qatar Economic Forum concluded very recently and demonstrated the country’s position as an important centre for business, trade and investment. The virtual event provided a platform to exchange views,...

Read more

Page Break