BENEFIT, has announced the signing of a partnership agreement to acquire Bahrain FinTech Bay (BFB). The agreement seeks to accelerate sustainable investment in Bahrain’s fintech ecosystem thereby paving the way for a robust, future-ready financial services sector.
The partnership, brings together Bahrain’s fintech market players to develop a more systematic and institutional framework for collaboration across the ecosystem, as part of the long-term roadmap and service expansion plan of BENEFIT.
BFB was formerly supported by a diverse portfolio of founding partners and entities, incubating over 116 start-ups since its inception. By creating a collective taskforce to drive joint national strategies, synergies, and high-impact initiatives within a fast-growing fintech sector, the newly formed partnership seeks to contribute to ensuring Bahrain keeps pace with key investment trends in an increasingly competitive global playing field.
Moving forward, BFB will maintain its commitment to supporting impactful fintech initiatives across the sector by delivering acceleration framework and innovation labs, future proofing local talent through securing leading international fintech education programs. Moreover, BFB will continue to provide curated corporate advisory services, conducting comprehensive in-depth research and developing data-driven strategies to its fintech partners on a project basis.