July 16, 2024

Investments & Exits

Bahrain Gets its First fintech Venture

The launch of HP Spring Studios, that will be located in its new Manama headquarters, would significantly strengthen the financial and startup ecosystem in the MENA region. The firm will work with entrepreneurs to co-create and actively invest in next-gen fintech firms.

An internal team equipped with full spectrum capabilities in product, operations and engineering, will enable startups to accelerate their product or market fit, the statement reads.

The National Bank of Bahrain, Mumtalakat, and Batelco are just a few of the corporate and public entities in Al Waha and Hambro Perks’ regional and international network that entrepreneurs will collaborate with closely to gain consumer momentum and achieve additional funding rounds before exiting.

For both domestic and foreign talent, the studio seeks to create fresh, highly qualified opportunities in Bahrain for its core group and the companies it supports.

“HP Spring Studios will not only concentrate on attracting highly competent foreign talent, but also on educating homegrown talent through educational activities, skill enhancement and internships in collaboration with local institutions,” reads a statement from the company.

According to Mr. Dominic Perks, Chief Executive of Hambro Perks, “There has never been a more appealing opportunity for businesses to build fintech solutions to address the difficulties in the MENA markets. High entry barriers have so far limited the possibilities for innovation. The purpose of HP Spring Studios is to address the issues local entrepreneurs face.

“The studio and Hambro Perks will draw in reliable international co-investors to the operating companies established in Bahrain once client startups are prepared to scale. This will not only add to job growth but also facilitate economic growth and draw more talent and entrepreneurs to Bahrain. “ said Mr. Perks.

Visit World Fintech News for the latest information and analysis on the financial sector and the fintech industry.

 

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