Global digital smart open banking app, sync, has been announced as part of the first-ever Qatar Fintech Accelerator, which starts today.
As part of the program, which commences today, sync has confirmed plans to open an office in Qatar in the coming months. The firm will use it as a base to launch their Middle Eastern operations in early 2021, with a focus on the Qatar World Cup in 2022. They are the only European-based Fintech currently expanding to the Middle East.
Ricky Lee, CEO and Co-Founder of sync, stated: “We’re proud to be part of the first-ever Qatar Fintech Accelerator. We launched across Europe in August 2020 and we are excited that the Accelerator will allow us to expand our product to Qatar very soon.”
In excess of 350 Fintechs expressed their interest in the Qatar Fintech Accelerator, run by the Qatar Development Bank and Qatar Fintech Hub, with only 13 of the most advanced companies chosen. sync is the only UK Fintech included, alongside startups from Qatar, Singapore, Canada, Brazil and more.
The Accelerator is a 12-week program designed to support mature FinTechs with a proven product that is looking to expand globally. It focuses on facilitating collaboration between startups and key partners and brands in Qatar.