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Over 300 FinTech startups from all over the world applied to be part of Dubai-based FinTech Hive’s future accelerator program and only 22 were selected, including two from Africa . The two African startups to have made the final-22 include PaySky from Egypt and Amplified Payment System from Nigeria.

FinTech Hive is conducting the second edition of its accelerator program in partnership with management consulting and professional services giant Accenture. It claims to be one of the largest and most impactful accelerator programs in all of Middle East.

The startups to have been shortlisted will get a chance to closely collaborate with leading financial institutions and other industry stakeholders to bring forth innovative solutions to real-life problems. The ultimate objective of the program is to empower the participants and help them to establish as valuable assets capable of driving the region’s economic progress.

Current CEO Waleed Sadek founded PaySky in 2016. Headquartered in Dubai, the company provides customers — mostly enterprises, merchants, and financial institutions — with an array of payment solutions. Some of its most popular products include smart point of sale, mobile point of sale, in-app payment APIs, and QR code payment technology, to name a few.

CEO Segun Adeyemi founded Amplified Payment System in 2015. In its relatively short existence, the company has made a name for itself as a reliable facilitator of online recurring payments for enterprises.