Payment startup wins GCC Pitch Challenge Final

The team behind Bridg, a startup that enables payments via smartphones (and any other phone with Bluetooth), won the recent GCC Pitch Challenge Final. Bridg’s service doesn’t require a data connection. It uses mesh networks to enable transactions without the use of PINs or physical point of sale systems. Any seller may be connected to a customer even if they are offline. The company’s focus is on the millions of people in underdeveloped countries who don’t use banks. Bridg is aiming high, but the team is well-connected and experienced, two things that helped them win. Their concept was so interesting that people lined up during a break to see Bridg’s working prototype.

The GCC Pitch Challenge Final, organized by Startup MENA, an initiative powered by Venture Scout and funded by European Commission, was held in Dubai on April 29. The 12 startups from six countries were pressure-tested by experienced mentors to perfect their five-minute pitches in a workshop before the finals.

The winner was awarded a 20,000 euros cash prize and runners up were awarded access to conferences like Slush, Pioneers Festival and MENA Angel Summit. The winners were also fast-tracked for Startup Bootcamp’s accelerator programs.

Original article by Ozan Sonmez

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Payment startup wins GCC Pitch Challenge Final