Monak E-Services triumphs at the Regional Finals of Fintech World Cup in Riyadh

11 shortlisted fintech start-ups participated in the third regional finals of the Fintech World Cup organized by Dubai Fintech Summit in collaboration with Trescon at the DATE Fintech Show, co-located with DATE AI Show in Saudi Arabia, vying for a chance to pitch at the grand finale and secure up to $1 million in funding.

Riyadh, Saudi Arabia, December 15, 2023 — The eagerly anticipated pitch competition witnessed Monak E-Services emerge victorious among the shortlist of start-ups, showcasing the innovative ecosystem thriving within Saudi Arabia’s tech landscape.

The Fintech World Cup, organized by the Dubai Fintech Summit in collaboration with Trescon, provides fintech entrepreneurs with a platform to exhibit transformative innovations reshaping the industry at the Dubai Fintech Summit held in Dubai in 2024.

Monak E-Services, a MENA-based migrant fintech company that offers financial inclusion and life services to workers in the Middle East through a partnered network, clinched victory at the regional finals hosted at the DATE Fintech Show in Riyadh, marking a significant stride forward in revolutionary fintech solutions.

Following their win, Mazen Mostafa Abdel Aziz, Head of Partnerships at Monak E-Services, expressed gratitude for the remarkable platform and said,” It really matters to us to be a part of a stage where global juries and investors believe in our social mission and vision.”

During the event, the vibrant exchange of ideas and visionary insights underscored the evolution and dynamism of fintech in Saudi Arabia. The convergence of leading start-ups, global tech influencers, and visionary minds at DATE underscores its role in igniting Saudi Arabia’s tech revolution and its commitment to driving sustained growth and innovation in the region’s tech landscape.

The event served as a melting pot of visionary ideas and groundbreaking insights, illuminating the vibrant evolution of Saudi Arabia’s fintech realm. The convergence of leading start-ups, global tech influencers, and visionary minds at DATE highlights its pivotal role in fueling Saudi Arabia’s tech revolution. It signifies a dedicated commitment to propelling sustained growth and fostering innovation within the region’s tech landscape.

Sharath Ravi, CMO of Trescon, said, “At Trescon, we are committed to creating platforms that foster collaboration, growth, and development of key emerging technology ecosystems like AI and Fintech. Through events like DATE, we also strive to support economic development in alignment with key government initiatives like the national agenda detailed in Saudi Vision 2030. By incorporating events like the Fintech World Cup organized by Dubai Fintech Summit within DATE KSA, we bring some of the most exciting Fintech start-ups from Saudi Arabia and the MENA region to showcase their innovative offering to qualified global investors and gain invaluable market exposure.”

The second day of the DATE FinTech Show and DATE AI Show also boasted compelling keynote presentations and captivating panel discussions, aiming to drive deeper conversations about the adoption of these cutting-edge emerging tech solutions.

One such engaging session was the panel discussion on ‘ Digital Asset Regulation is Transcending: Creating a regulatory framework for the Digital Asset ecosystem to thrive’. Moderated by Vineet Budki, Managing Partner & CEO, Cypher Capital, the panel highlighted the latest developments in the regulatory landscape. The panelists, including Ian Arden, CEO, Mempool Ventures; Stefan Kimmel, CEO, M2; and Monica Brand Engel, CEO, Quona Capital, shared key insights on investor protection, financial stability, and AML/CFT compliance.

Another noteworthy session focused on ‘Empowerment Personified: Fintech’s Impact on Women-led Enterprises.’ Moderated by Nouf Hijazi, Business News Presenter at Al Arabiya, the panel deliberated on women’s advocacy for gender inclusivity in the tech ecosystem. The panellists, including Emon Shakoor, CEO of Blossom MENA; Sonia Shaw, Partner & Vice President of Global Partnerships at CoinW; and Elina Idrisova, Regional Director at Elevatus, shared compelling views advocating empowerment in the fintech space to drive much-needed change.

The conclusion of this successful event sparks anticipation for the forthcoming edition set to take place in Indonesia on June 12 and 13, 2024, poised to equip businesses with state-of-the-art tech solutions, offering an exclusive glimpse into tomorrow’s innovation and technology.

Partners and Sponsors at the DATE FinTech Show and DATE AI Show:

• Lead Sponsor: Mastercard; ICT Cloud
• Gold Sponsor: CoinW; Alnafitha IT; TORSECURE CYBER LLP
• Silver Sponsors: Rednderpub; Snowflake; M2; Stock Gro; Checkout.com
• Strategic AI Sponsor: INEXA
• Bronze Sponsors: BEINEX; DRUID; FourNXT; Smart Chain; Nomu group
• Keynote Partner: GameIN
• Exhibitor: Aventior; Triterras; Vault; ICS Financial Systems LTD; Masroofi
• Startup Exhibitors: Everest IMS; Red Buffer; TechMango; Ilegal Technologies; Infohensive; CSP Solutions; Hyper AutoX; Monak; Sapid Blue; SDK Finance; Loan; GRC 360; Ceron; Autosphere; A352; Candlestick; SDLC Corp
• Strategic Fintech Partner: MENA Fintech Association
• Association Partners: hashtag(#)web3; Mysan; ITEE; Fintech Association of Sri Lanka; Alliance of Digital Finance Associations; Fintech Association of Japan; World Alliance of International Finance Centers; Frankfurt Main Finance
• Business Broadcast Partner: CNBC Arabia
• Official Digital Media Partner: Akhtar
• Official Media Partner: Al Bilad
• Official Newspaper Partner: The Fintech Times
• Official Content Distribution Partner: ZEX PR Wire

About Trescon

Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership.

Our summits, expos, and conferences create real economic impact by connecting and empowering the key ecosystem of government organisations, regulators, enterprises, corporates and more. With the help of our 250+ employees across offices in 6 countries, several of our clients have quadrupled their leads, shortened sales cycles by half or less, entered markets three times faster, closed deals within unimaginable timelines and grown their businesses ultimately. For more information about Trescon, visit www.tresconglobal.com.

For media inquiries and further information, please contact:

Shadi Dawi
Director, Public Relations & Partnerships — MENA
[email protected]
+971 55 498 4989