Qatar FinTech Hub announces wave 5 of its incubator and accelerator programs

Qatar FinTech Hub announces wave 5 of its incubator and accelerator programs

Doha, Qatar: Qatar FinTech Hub (QFTH), founded by Qatar Development Bank (QDB), has announced the final list of FinTech Startups to join Wave 5 of its Incubator and Accelerator Programs. The series is part of QDB’s efforts to support startups in their entrepreneurial journey through various programs and venture capital investments. Since its launch in 2020, QFTH has played a key role in growing Qatar’s Fintech industry by graduating 57 FinTech Startups, with the cumulative valuation of portfolio start-ups coming up to USD $500 million. QDB’s commitment is evident by their commitment of investment in these FinTech Startups summing up to USD $6.46 million out with more than USD $4 million inclusive of cash and in-kind value has already been disbursed.

Over 500 applications were received through the program application portal alone, out of which 290 were filtered based on their eligibility and relevancy to the program and the market. After a rigorous shortlisting process 14 FinTech Startups were invited to pitch to a jury comprising of Strategic and Theme Partners from which 10 FinTech Startups were selected to join the program. In parallel, QFTH also selected 11 FinTech Startups for the Program through their Hackathon in June, bringing the total