USD 9.25 Million in Investments Committed to Start-ups during FinTech World Cup at Dubai FinTech Summit
15 Regional finalists pitched at the FinTech World Cup (FWC) grand finale during the Dubai FinTech Summit
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The much-awaited Grand Finale of the FinTech World Cup (FWC) hosted by Trescon in partnership with Dubai FinTech Summit (DFS), VISA, Emirates NBD & Amazon Web Services (AWS), witnessed committed investments totalling worth over USD 9,250,000 (9.25 million) by various investors.
In an intense showdown, 15 qualified start-ups from around the world – Audax, Xaults Technologies, Monak E-Services, YABX, ALTPAYNET, APPRO, Libeara, Letbloom, Myzoi, Vault22, Lordsystem, MOIN, Alphastream.ai, Validus, and Namara – pitched at the FWC Grand Finale to a room full of global investors during the 2nd day of DFS.
While APPRO emerged as the Winner of FWC and secured on the spot investment commitment of USD 500,000, other startups like Finix196 received commitment of USD 5 million by Dhruv Management, Motive Partners committed USD 3 million to Alpha Stream and Validus got commitment of USD 750,000 by Aum Ventures.
Mohammed Saleem, Founder and Chairman of Trescon, stated, “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, said, “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. We are committed to shaping an ecosystem that not only celebrates FinTech excellence but also propels the industry forward.”
The FWC jury was comprised of distinguished professionals from various sectors of the FinTech industry, including 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; and Tunc Ozgul, Head of Startup and VC Ecosystem at Amazon Web Services.
The 2nd edition of the Dubai FinTech Summit was supported by global corporate partners, including Founding Partners VISA, Emirates NBD (ENBD), Etisalat & (E&) and Commercial Bank of Dubai (CBD).
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Ensuring comprehensive health care and fostering innovation and job growth within the health sector.
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The Council of Health Insurance and the Saudi Insurance Authority began implementing this decision, requiring employers to provide insurance for domestic workers if their number exceeds four.
The general requirements for applying benefits and coverage under the policy include submitting a medical disclosure form, obtaining approval from the health insurance company, and insuring all workers.
This mandatory health insurance initiative is part of the Council of Health Insurance and the Insurance Authority‘s efforts to ensure comprehensive care, prevention, justice, transparency, and excellence in performance for all stakeholders.
The decision aims to achieve comprehensive health care, sustain health coverage, and encourage health insurance companies and healthcare providers to develop new products and create job opportunities in medical and non-medical specialties.
Iman Al-Tariqi, the official spokesperson of the Council of Health Insurance, explained that the domestic workers’ insurance policy covers primary care, public health, emergency cases, hospitalization without a deductible, emergency treatments for clinics with unlimited visits, vaccinations, and examinations.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
