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Featured image: Members of FinTech Hive's second cohort (Fintech Hive at DIFC via Twitter)

Two African startups selected for FinTech Hive’s 2018 Accelerator programme

Two African fintech startups: Amplified Payment System from Nigeria and PaySky from Egypt have been selected to join FinTech Hive’s 2018 accelerator programme.

The Dubai-based accelerator claims to be one of the largest fintech accelerators in the Africa and Middle-East region. This year’s accelerator programme, which kicked-off last week, is run in partnership with Accenture.

In a blog post announcing the finalists last week, FinTech Hive stated that over 300 startups from around the world applied to join this year’s programme, FinTech Hive’s second. In all, 22 startups were selected.

FinTech Hive is one of the largest fintech accelerators in the Middle East, Africa and South Asia (MEASA) region

As part of the accelerator’s 12-week programme, selected startups work with financial institutions and other stakeholders to come up with innovative solutions that aim to address the evolving needs of the region’s financial services industry.

Lagos-based payments startup Amplified Payment System helps Nigerian businesses accept and manage recurring payments online. The startup was founded in 2015 by CEO Segun Adeyemi.

PaySky was founded in 2016 by Egyptian CEO Waleed Sadek. The startup, which is headquartered in Dubai, offers a range of payment solutions to financial institutions and merchants which include mobile point of sale, smart point of sale, QR code payments and in-app payment APIs.

In a statement on LinkedIn last week, PaySky stated that it is “really excited” to have been selected as part of the cohort.

The company further stated that joining the accelerator is an “impactful entrance” to the United Arab Emirates market and will enable the startup to extend its services to more consumers, businesses and financial institutions.

Featured image: Members of FinTech Hive’s second cohort (Fintech Hive at DIFC via Twitter)