Fintech Factory is a unique financial technology accelerator program that takes startups with market validation and offers them access to state-of-the-art work space, industry-leading mentors, skill set development through personalized training, and excellent networking opportunities.
Fintech Factory in collaboration with TPS, Sybrid, Rapidcompute, JS Bank and Takaful Pakistan has partnered with Karandaaz’s 3rd Fintech Disrupt Challenge (FDC III).
Fintech Factory and Karandaaz have partnered up to induct selected applicants for FDC III 2018 into the accelerator program and help them reach a market tested scalable for the challenge. Through the program, they aim to develop the ecosystem in a self-sustaining manner to catalyze innovation in the fintech space to reduce the digital divide and improve lives of Pakistanis.
Owais Zaidi, Founder of Fintech Factory speaking to local news said, “While the opportunities for bridging gaps in the financial ecosystem are phenomenal, the fintech startup space in Pakistan is at a very nascent stage. Understanding the needs of startups and Fintech verticals, our objective is to identify, facilitate and accelerate ideas that can improve lives of our fellow Pakistanis in a sustainable and scalable manner.”
He further added that Fintech Factory is delighted to partner with Karandaaz for the Fintech Disrupt Challenge 2018 where they hope to share their aim of harnessing the most innovative ideas from the financial technology space and transforming them into scalable solutions.
Umair Munir, an FDC 3 cohort who is the Founder of Trackit speaking about the accelerator to the local news said, “The accelerator is unique in terms of its offering in the local ecosystem; it is keeping its focus to fintech and has a capable team of professional advisers supporting the cohort. We as a start-up have been able to get traction on our MVP and hone our offering. It has also enabled us to validate some of our assumptions and pivot slightly.”
The Fintech Disrupt Challenge finale is to be held in Karachi on the November 29th, 2018. Seven trainees are busy working on their innovative fintech solutions at the Fintech Factory. The startups with ground-breaking fintech ideas and a high growth potential will be given grants of $100,000 and $20,000.