Al Waha Fund of Funds, managed by Bahrain Development Bank, and Hambro Perks, an international investment firm, announced the launch of HP Spring Studios, a FinTech venture studio. HP Spring Studios will be based in Bahrain.
The studio will both co-found and invest directly into next-generation FinTech startups with entrepreneurs. Startups will work closely with Al Waha Fund & Hambro Perks’ local and global network of private and public institutions, including the National Bank of Bahrain, Mumtalakat, and Batelco to drive customer traction and secure future funding rounds to exit.
Hambro Perks has a specific focus on FinTech, having invested in companies like Sarwa, Tide, and ByMiles.
“The opportunity for entrepreneurs to develop fintech solutions to help address the MENA region’s challenges has never been more compelling. To date, high barriers to entry have been limiting the potential for innovation. HP Spring Studios exists to solve for the problems experienced by founders in the region. Once portfolio startups are ready to scale, the studio and Hambro Perks will bring in trusted global co-investors to the Bahrain-based operational companies, not only creating further jobs but also facilitating capital inflows and attracting further talent and investors to Bahrain,” Dominic Perks, Chief Executive at Hambro Perks, stated.
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