ALEXBANK’s Startupbootcamp FinTech Cairo awarded the ‘FinTech Accelerator of the Year’ at the FinTech Abu Dhabi festival
Cairo, Egypt – 27 October 2019 - During the FinTech Abu Dhabi festival, FinTech Cairo has been awarded the ‘FinTech Accelerator of the Year’ for the MENA region. This accelerator, which initiated an innovative early-stage FinTech startups program with a targeted focus on financial inclusion, has been brought for the first time to Egypt and the MENA region by Startupbootcamp and Pride Capital, supported by the active commitment of ALEXBANK. FinTech Abu Dhabi inaugural awards ceremony took place during the second day of the festival as well as the Plug and Play pitching competition uniting start-ups with the unrivalled tech expertise of Silicon Valley.
As the anchor partner for Startupbootcamp, ALEXBANK has contributed to establishing a dedicated FinTech accelerator that engages with entrepreneurs to get them to the next level in their development. ALEXBANK has played an active part in the growth of the accelerator, providing deep dive mentorship and preferential banking services to the all SBC companies, in addition to piloting four POCs with various startups in the last six months.
Earlier this year, ALEXBANK signed a partnership agreement with Startupbootcamp (SBC) and Pride Capital to help foster a better ecosystem for entrepreneurs to thrive in the FinTech space. The FinTech accelerator program is considered the first of its kind in Egypt and has sustained the first graduating cohort of 11 Egyptian startups. ALEXBANK and SBC are currently engaged in designing next year’s program, with a focus to bring even more groundbreaking solutions to the market.
With Egypt’s commitment to financial inclusion and the recent focus on digital finance, FinTech is emerging as one of the key verticals in the country’s entrepreneurship ecosystem.
Established in 1957, ALEXBANK is today one of Egypt’s leading private sector banks, participated by the Intesa Sanpaolo Group since 2007. ALEXBANK owns one of the largest private sector branch networks with a total of 176 branches located in every major Egyptian governorate employing over 4,500 individuals who proudly serve about 1.5 million customers, playing a vital role in Egypt’s economic present and future. ALEXBANK actively serves the widest spectrum of segments by providing value added financial products, services and solutions to Retail, Small Business, Medium and Corporate Enterprises. ALEXBANK is currently in the midst of a radical digital transformation aimed at providing our customers with the most unique of banking experiences, via our seamless multi-channel experience incorporating Internet & Mobile Banking, Cards, Electronic wallets, and the latest generation of point-of-sale & ATMs, all powered through the power of Big Data and empowered by key players in the FinTech ecosystem.