Complex Made Simple

The Levant welcomes its first-ever Fintech hub!

Fintech startups from the Levant have found a new place to call home.

The hub. StartechEUS. will be hosted by the Beirut Digital District (BDD) It will accelerate a select number of FinTech companies with substantial seed funding of USD100k up to 2M series A tickets per company StartechEUS is led by successful serial-entrepreneurs and financial and technology experts with an extensive international track record

The Levant will bear witness to its first-ever Fintech hub this month. 

StartechEUS FinHub, the first of its kind in the Levant region, will make a home for itself in Beirut, Lebanon, in none other than Lebanon’s own digital and creative startup hub, the Beirut Digital District (BDD)

This news comes courtesy of the BDD itself, which made the announcement on their blog

According to the blog, the StartechEUS FinHub will play an integral role in accelerating the growth of carefully chosen FinTech companies, by providing substantial support, mentorship, access to market and seed funding, ranging from USD100k up to USD2M in series A tickets per company.

According to sister publication Communicate Online Levant (COL), StartechEUS FinHub was established in 2018 by Alexandre Harkous, the former founder and CEO of computer software company BI SAM Technologies.

StartechEUS has partnered with Lebanese International Finance Executives (LIFE, a diaspora-centric platform for Lebanese financiers), the Central Bank and BDD to empower the Levant fintech industry through a whole array of training, consultancy and workshops, the site explained. 

“Besides supporting startups with capital funding and mentorship, StartechEUS FinHub offers office spaces and market research developed through its StartechEUS Technology Academy, in collaboration with BDD,” COL said. 

Alexandre Harkous, Managing Partner and Chairman of StartechEUS said: “We believe that industry focus is central to achieving the best results. We will be operating at the intersection of Innovative Technology and Financial Services with a vision to empower the digital, artificial intelligence and blockchain fields.”

Speaking to Business News Lebanon, Giovanni Khalil, Chief Marketing Officer at Startecheus, said that his company will also provide venture capital investment in the startups under a new support program from the Central Bank of Lebanon (BDL). The program will be an amended version of BDL’s circular 331 and will alleviate constraints imposed on startups, Khalil said. The investment will be exited within seven years. 

According to the official press release, StartechEUS FinHub has been founded on four main pillars, to serve as a one-stop-shop for entrepreneurs providing them with funding, state-of-the-art Fintech office space, market research and relevant trainings delivered by domain experts through StartechEUS Technology Academy. The FinHub will also provide access to markets, with focus on Europe and the United States, made possible through the partnership with the Lebanese International Finance Executives (LIFE), comprised of a 1,000 strong global network of senior leaders in all areas of finance.

The areas of focus will include:

STARTECHEUS FINHUB

StartechEUS FinHub is considered the value creation engine within StartechEUS, providing the insight, connections and diligence needed to unlock and accelerate value for our portfolio companies and partners.

STARTECHEUS TECHNOLOGY ACADEMY:

Entrepreneurs will be provided with up-to-date focused training sessions from industry experts, corporate leaders and academic partners in order to transfer some of the best practices, tools, and resources available out there for our startups to develop and scale in such a competitive global market.

“Through leveraging our Tech experience and knowledge together with the support and contribution of our partners, we aim to provide our entrepreneurs with selective focused trainings that match their needs and strengthen their technical skills so that they can transform their innovative ideas into reality,” says Nizar Ajeeb, Chief Technology Officer of StartechEUS.

STARTECHEUS FINNOVATION FUND:

StartechEUS will invest both directly and indirectly in fintech start-ups, nurture and monitor their portfolio of companies and create value for LPs Private and institutional Funding capacity.

“Through our unparalleled pipeline sourcing capabilities and due diligence screening, we aim at selecting the best in class disruptive fintech players to invest in and help in achieving returns, as well as co-investing alongside some of the top fintech VC names in the world,” says Karl Naïm, Chief Investment Officer and Partner of StartechEUS.

STARTECHEUS GOVERNANCE MANAGEMENT:

StartechEUS’s Governance Management framework has vast experience and a diverse skillset in digital entrepreneurship, the financial services industry, venture capital and management consulting. Driven by curiosity, the team will support the creation of innovative fintech business models and develop these ideas into successful companies that have a real impact.