On Wednesday, December 4th, the award ceremony for Venture Cup's IDEA competition took place. We are proud that Founders Loft startup Cirkly, led by the driven founders Hatem Ahmed and Amr Salem, was one of five startups to win in the Region West Final!
The Venture Cup IDEA competition aims to promote entrepreneurship and highlight innovative and promising business ideas at an early stage. Five winners are selected from each of the four regions to form the Top 20 list of Sweden's best business ideas for 2024.
The Jury’s Motivation:
"This platform provides an opportunity to rethink financial management beyond traditional methods by offering a new and innovative approach. By encouraging positive financial behaviors, it empowers individuals to overcome economic challenges."
Hatem Ahmed and Amr Salem comment:
"Last year, we participated in Venture Cup with this very idea, and the feedback we received, along with the inspiring connections we made during the final events, gave us the drive we needed to move forward. Winning Venture Cup IDEA this year is truly a pivotal moment for us—a recognition of our growth and vision over the past year."
We at Founders Loft are incredibly proud that Cirkly has been named one of the winners of Venture Cup's IDEA 2024 for Region West—and has also earned a spot on the list of Sweden's Top 20 Best Business Ideas! Hatem Ahmed and Amr Salem are shining examples of what happens when determination and innovation come together.
Their success reflects not only their visionary work but also the strength of their business idea. We look forward to following their continued journey and congratulate Cirkly on this remarkable milestone!
Read Venture Cup's press release about the Region West winners:
About Cirkly
In today’s challenging economy, financial inclusion is a tough nut to crack, especially for immigrant groups, newcomers, and those unable to access bank loans for religious reasons. These groups often rely on informal group savings systems known as ROSCA (Rotating Savings and Credit Association), but the lack of regulation makes the system vulnerable.
Cirkly offers a fintech solution that transforms the traditional ROSCA model into a secure and scalable digital platform. This solution empowers people to fund life’s milestones, such as purchasing a home, while promoting financial inclusion and fostering a sustainable, debt-free future.
Cirkly is part of the Founders Loft incubator.
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