In 2017, Karandaaz Pakistan, in partnership with the Institute of Business Administration, Karachi announced its 2nd round the FinTech Disrupt Challenge 2017. The purpose of this challenge was to invite the most innovative ideas from the financial technology space. In this round, grants were given to high-impact financial technology start-ups.
The objectives of this Challenge are as follows:
- Support innovation in the FinTech space to enable greater financial inclusion.
- To identify and support best and innovative practices in terms of digital payment solutions.
- Provide success stories and examples of new payment mechanisms.
The second round also focused on nascent stage ideas where the start-up had an idea but needed seed funding to come up with a minimum viable product. These startups were supported with a grant amount of USD 20,000.
Following were the winners of 2017 round: