Nuclei selected for Qatar FinTech Hub Accelerator program

By Edil Corneille

Indian company Nuclei, a provider of lifestyle banking and marketplace solutions, has been selected as part of the first wave of the Qatar FinTech Accelerator. Qatar FinTech Hub has chosen 24 FinTechs globally to take part in the first edition of the accelerator and collaborate with multiple financial institutions in Qatar and the Middle East region.

More than 750 applications were received from FinTechs across 73 countries for the program. Nuclei has mentioned that it is the only Indian FinTech that has been selected among others from Qatar, USA, UK, Singapore, etc. The program is said to have followed a rigorous and thorough evaluation process along with a virtual pitch by 55 FinTech final participants. From them, 24 FinTechs were selected by leaders from Qatar Development Bank (QDB), Qatar Central Bank (QCB), Qatar Finance Centre (QFC), Ernst & Young, and their strategic partners.

The accelerator is a 12-week program designed to provide a launchpad for global and local FinTechs to help them accelerate their expansion internationally from Qatar. This will also provide an opportunity for companies like Nuclei to collaborate with leading financial institutions in Qatar.

Nuclei is helping banks to increase customer engagement on their mobile application by powering a lifestyle marketplace and facilitating multiple daily use-cases on the app. Banks in MENA, through a single integration with Nuclei, will be able to offer their customers access to multiple services like travel, utility payments, charity, events & experiences, etc. Nuclei is currently working with 16 banks in India and the Middle East region and processing around 3 million transactions through its lifestyle marketplace.

Ankur Joshi, the founder & CEO of Nuclei enthused, “This is a proud moment for us and we are very excited to work with leading stakeholders & businesses in Qatar. Our collaboration with Qatar FinTech Hub will definitely help us to accelerate our expansion into Qatar as well as the rest of the Middle East & North Africa region.”