Benefit acquires Bahrain Fintech Bay

Benefit acquires Bahrain Fintech Bay

Bahrain - Benefit, Bahrain's leading company in Fintech and electronic financial transactions services, has signed an agreement to acquire Bahrain FinTech Bay (BFB), a leading fintech hub in the region that incubates impactful and scalable initiatives.

This agreement seeks to accelerate the sustainable investment in Bahrain’s fintech ecosystem thereby paving the way for a robust, future ready financial services sector, said a statement.

The partnership brings together Bahrain’s leading fintech market players to develop a more systematic and institutional framework for collaboration across the ecosystem, it said.

As an active ecosystem builder which has cemented its standing as an enabler of fintech innovation across the region, BFB was formerly supported by a diverse portfolio of founding partners and entities, incubating over 116 start-ups since its inception.

By creating a collective taskforce to drive joint national strategies, synergies, and high-impact initiatives within a fast-growing fintech sector, the newly formed partnership seeks to contribute to ensuring Bahrain keeps pace with key investment trends in an increasingly competitive global playing field, said the statement.

Moving forward, BFB will maintain its commitment to supporting impactful fintech initiatives across the sector by delivering bespoke acceleration framework and innovation labs, future proofing local talent through securing leading international fintech education programs.

Moreover,