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DIFC’s FinTech Hive reveals ‘Scale Up Programme’ for startups in MEASA

DIFCDubai International Financial Centre (DIFC) FinTech Hive has revealed the launch of their funding accelerator programme for start-ups in the Middle East, Africa and South Asia (MEASA) regions. The FinTech Hive Scale Up programme offers strategic partnership and investment opportunities for post-series A startups through this ecosystem.

The programme is supported by Middle East Venture Partners (MEVP), Etisalat, DIFC FinTech Fund, Dubai Cultiv8, FALCOM Financial Services and NIcapital. These investment partners gain access to the startup ecosystem and benefit from faster access to growth and scale markets.

Raja Al Mazrouei, Executive Vice President, DIFC FinTech Hive said, “We are delighted to have launched the ‘FinTech Hive Scale Up’ programme to support the region’s growing FinTech community, and give them a strong platform to drive innovation in the MEASA region.”

In December 2019, the financial centre announced the signing of individual Memorandums of Understanding (MoU) with two institutions, Lloyd’s and Chartered Insurance Institute (CII), in a bid to boost the region’s insurance sector by enhancing efficiency. DIFC stated that the partnership with the two companies is expected to fuel the development of talent within the local insurance and reinsurance ecosystem.

DIFC is a global financial centre and; a financial hub for the Middle East, Africa and South Asia (MEASA) regions comprising of 72 countries with approximately a population of 3 billion and a nominal GDP of $ 7.7 trillion. The centre connects these fast-growing markets with the economies of Asia, Europe and the Americas.

London-based Bankable, in November 2019, said it was setting up a Middle Eastern hub in the DIFC to engage with over 2,000 registered firms with the centre.

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