Karandaaz & LCE Announce 23 Startups as the Winners of Fintech Disrupt Challenge


Karandaaz & LCE Announce 23 Startups as the Winners of Fintech Disrupt Challenge. As Karandaaz Pakistan along with LUMS Centre for Entrepreneurship (LCE) organized Fintech Disrupt Challenge 2016 (FDC2016) in order to come up with innovative ideas for introducing technology in the field of finance and banking.

A total of 63 startups participated in the FDC2016 and hoped to win Rs. 10 million which can be used on the implementation of ideas presented in the competition. FDC2016 concluded on 27th November, 2016.

Karandaaz & LCE Announce 23 Startups as the Winners of Fintech Disrupt Challenge

Later the CEO of Karandaaz Pakistan, Ali Sarfraz announced the winners of FDC2016 , which include 28 starups, on Facebook live. He congratulated all the winner startups and wished them good luck for future.

A panel of 6 judges for the competition included:

  1. Romana Abdullah
  2. Asad Azfar
  3. Amaar Ikhlas
  4. Yasser Bashir
  5. Naeem Zamindar
  6. Mohsin Termezy

The participated teams were given 1 minute to present their idea in front of audience and judges.

The major ideas of participants include following sectors:

  • Payments
  • Financing
  • Insurance
  • Savings
  • Investment
  • Real Estate

The closing note of the event was delivered by CEO Karandaaz, Ali Sarfraz.

“FinTech Disrupt Challenge 2016 presented a unique opportunity for fresh start-ups and those in their idea phase to be imaginative and creative about complex problems in the financial sector. Through this initiative, we have provided much-needed impetus to FinTechs, validation of their ideas, financial support and mentor-ship.”

He said.

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