FinTech World Cup at Dubai FinTech Summit Sees $9.25M+ Committed to Startups; APPRO Wins Top Prize
Over $9.25 million in investment commitments were made to startups at the Grand Finale of the FinTech World Cup (FWC), hosted by Trescon during the recent Dubai FinTech Summit (DFS). APPRO was crowned the winner, securing an on-the-spot investment of $500,000, with substantial commitments also made to other finalists including Finix196, AlphaStream, and Validus.
Global Innovators Pitch at FinTech World Cup Grand Finale
The much-anticipated Grand Finale of the FinTech World Cup (FWC) brought together 15 qualified startups from around the world to pitch their innovative solutions. The event, hosted by Trescon in strategic partnership with the Dubai FinTech Summit (DFS), VISA, Emirates NBD (ENBD), and Amazon Web Services (AWS), provided a global stage for these emerging companies.
The 15 finalists who presented to a room full of global investors on the second day of DFS were: Audax, Xaults Technologies, Monak E-Services, YABX, ALTPAYNET, APPRO, Libeara, Letbloom, Myzoi, Vault22, Lordsystem, MOIN, Alphastream.ai, Validus, and Namara.
APPRO Crowned Winner, Secures $500K
Emerging victorious from the intense competition was APPRO, which secured an immediate investment commitment of USD 500,000. This investment was notably committed by Mohammed Saleem, Founder and Chairman of Trescon, who was also a member of the FWC jury.
Significant Investments for Multiple Finalists
Several other startups also received substantial investment commitments during the event:
Finix196 received a commitment of USD 5 million from Dhruv Management.
AlphaStream (Alphastream.ai) secured a commitment of USD 3 million from Motive Partners.
Validus obtained a commitment of USD 750,000 from Aum Ventures.
Organizers Champion FinTech Innovation
Mohammed Saleem, Founder and Chairman of Trescon, expressed his enthusiasm: “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, added, “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.”
Distinguished Jury and Summit Supporters
The FWC jury comprised a panel of distinguished professionals:
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
Tunc Ozgul, Head of Startup and VC Ecosystem at Amazon Web Services
The 2nd edition of the Dubai FinTech Summit was also supported by global corporate founding partners: VISA, Emirates NBD (ENBD), Etisalat by e&, and Commercial Bank of Dubai (CBD).
About the FinTech World Cup
The FinTech World Cup (FWC), organized by Trescon, is a global competition designed to identify and support innovative FinTech startups, providing them with a platform to pitch to investors and gain international exposure.
Looking Ahead
The significant investment commitments made during the FinTech World Cup at the Dubai FinTech Summit underscore the vibrant FinTech ecosystem in Dubai and the broader MENA region. For the winning startups, this event provides not just capital, but also crucial mentorship, resources, and strategic partnerships to accelerate their growth and propel the industry forward.
Source: EntArabi