On the 28th July 2019, IFN Fintech will host an international delegation of Islamic fintech start-ups from key Shariah financial markets to explore fundraising opportunities with GCC investors in Dubai. VINEETA TAN has more.
The delegation comprises 10 promising fintech start-ups with unique inclusive business models for the Muslim market. Hailing from different jurisdictions including North America, Europe, Asia, Australasia and the GCC, the start-ups bring with them a variety of business propositions including in the verticals of digital banking, asset management, blockchain, payments and Islamic insurance.
IFN Fintech Pitch Day is a response to the crucial funding gap in the fintech sector, particularly in the niche Shariah fintech segment, which has been identified by the start-up community as one of the most pressing hurdles preventing growth and scale-up. Fintech investments have surged over the last few years, with over US$112 billion poured into tech companies in 2018, more than double the US$51 billion invested the year before, according to KPMG. This jump, however, is largely driven by mega deals of over US$10 billion: the US$17 billion investment by Blackstone in Refinitiv, the US$13 billion acquisition of the UK’s WorldPay by Vantiv and the US$14 billion capital funding raised by Chinese firm Ant Financial. The bulk of the funding is for conventional finance solutions, with a tiny fragment accounted for by Islamic fintech companies.
Gathering prolific investors from the Middle East including angel investors, family offices, private equity and venture capital firms, this invite-only event is a rare opportunity for investors to explore and channel investments into the burgeoning Halal fintech sector by engaging with prominent Islamic fintech founders on a one-on-one basis.
Invitations for investors to participate are open until the 15th July, and extended on a first-come, first-served basis as well as based on investment track record and business viability. To register your interest and learn more about IFN Fintech Pitch Day, click here.