1864 Accelerator's First Wave of FinTech Startups Announced

December has been entrepreneurship month since the launch of the RiseUp Summit, and as it grew, from one year to the next, so did the ecosystem. This year, however, the startup scene in Egypt reached another milestone with the completion of the first round of the country’s first FinTech (financial technology) startup accelerator programme 1864 Accelerator.

In conjunction with this year’s RiseUp Summit, the Middle East and Africa’s biggest international entrepreneurship gathering, the eight startups that graduated the rigorous accelerator programme were announced at the 1864 Accelerator Demo Day.  

Championing startups include Bees365, Card Switch, Save it, Olly, Yala Nsadar, Carsurance, Entej, and Moneyfellows, which were selected after a long evaluation process following programme’s different stages, including a five-day bootcamp during which they received training, mentoring, technical as well as financial support from Barclays Egypt.

The 1864 Accelerator programme has seen Barclays Egypt and Flat6Labs collaborate to provide promising FinTech startups with the support and guidance they need to launch their operations. “We had the privilege of being part of the creation of the first 'FinTech' Ecosystem in Egypt and the MENA region. The first Cycle of the accelerator highlighted the remarkable existing talents in Egypt, and the huge opportunities present in the field of Financial Technology,” said Flat6labs Managing Director Willie Elamien, whose sentiments were echoed by Nancy Bassiouny, Head of Digital Channels and Innovation at Barclays Bank Egypt. 

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