At a time when countries like Bahrain and UAE are dominating MENA’s FinTech landscape, Lebanon is certainly in no mood to miss the proverbial bus. Over the past couple of years, the country has witnessed the birth of a number of promising FinTech startups, with Capital Banking Solutions being one of the more widely known among them.
In a bit boost to its efforts to emerge a leader in Lebanon’s FinTech sector, the New York-based firm recently received a $5 million equity investment from Berytech, a business development organization watching over the private sector in the country.
This new investment round marks Berytech’s continuous efforts to make Lebanon a regional hub for financial and FinTech services.
Headquartered in New York, Capital Banking Solutions is a provider of software for corporate, retail, and private banks operating in MENA, Africa, and Europe. The company also has regional offices in Beirut and Dubai.
It is worth mentioning here that shortly after making the $5 million equity investment, Berytech stated that it is their largest investment so far in a startup and SME.
