According to media reports, Dayra a fintech startup based in Cairo Egypt received a grant from Y Combinator’s Startup School making it the first company from the Middle East and North Africa (MENA) region to win the grant. It is also important to note that three startups within the region have been included in Y Combinator’s accelerator batch (Winter 2020).
Dayra was founded in 2019 by Hesham Ghandour, Mohammed Ennabah and Abdulrahman Rizq. It is a mobile application that enables users to connect/link bank accounts to it and transfer money to other accounts. Making their intentions known, the company decided to raise investments funding to support their growth plans.
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The Accelerator Y Combinator’s startup school online program started in 2017 and accepted nearly 3,000 participants from more than 13,000 companies. At the end of the program, startups are selected by Y Combinator and they are rewarded with a grant. It is important to note that these courses do not require any charge.
Over 40,000 founders participated in the 2019 edition which included participants from this fintech startup in Cairo, Egypt. According to media reports, Hesham Ghnadour Founder and CEO Dayra stated “‘the high demand for the service provided by the mobile app in Egypt and the grant’s impact on the company to build such products.’’
He briefed on the company’s future plans in the coming months to continue focusing on improving user experience.
Sometime at the beginning of the year January to be precise, VakifBank a provider of financial services in Turkey developed a new banking assistant ViBi in partnership with Sestek. ViBi will be used on the bank’s mobile app where the mobile banking assistant will be able to answer over 5,000 questions and perform more than 300 banking transactions.
