Key Takeaways:
- Strategic Acquisition: Tenity announces the full acquisition of Hackquarters, enhancing its foothold in fintech and insurtech.
- Expanded Geographical Reach: The merger scales Tenity’s innovation program delivery across Europe, MENA, and APAC.
- Robust Ecosystem: The combined entity will leverage a vast network of hubs, corporate partners, alumni startups, and a strong mentor network.
Introduction: A Landmark in Innovation Ecosystems
Creating Synergies in Fintech and Insurtech Tenity, a leader in the fintech and insurtech innovation ecosystem, today announced its strategic acquisition of Hackquarters, a prominent London- and Istanbul-based startup accelerator and corporate innovation partner. This acquisition marks a significant step in Tenity’s growth strategy, enhancing its global influence and innovation capabilities.
The Tenity-Hackquarters Synergy
Building a Global Innovation Powerhouse The integration of Tenity and Hackquarters creates a powerful synergy in innovation program delivery and geographic expansion. The combined company will now feature six hubs across Europe and Asia, working closely with a large number of corporate partners and a vast array of startups.
The New Innovation Landscape
A Diverse and Enriched Network The merger offers startups greater opportunities across a broader geographic canvas, providing corporates with comprehensive innovation solutions and a robust startup ecosystem. Investors are set to benefit from increased deal flow and a stronger geographic footprint, while public institutions and associations will see positive impacts on local economies and innovation potential.
Leadership and Vision
Driving Forward a Shared Mission Kaan Akin, Founder and CEO of Hackquarters, will assume a critical leadership role within Tenity as Managing Partner. His expertise and experience are expected to be pivotal in realizing the company’s vision for a thriving, interconnected network of innovation hubs.
The Role of Fintech in the Global Economy
A Sector Poised for Exponential Growth Fintech’s role in the global economy is growing steadily. According to BCG data, the fintech sector, which currently accounts for 2% of global financial services revenue, is projected to rise to 7% by 2030. The combined expertise of Tenity and Hackquarters positions the entity to be a significant contributor to innovation in fintech and related sectors across EMEA and APAC.
About Tenity
Accelerating the Future of Finance Tenity, with its global presence and focus on fintech and insurtech, has been instrumental in accelerating tech startups and connecting them with major businesses, investors, and industry experts. Since its inception, it has facilitated the participation of numerous tech startups in its programs, attracting substantial funding.
About Hackquarters
Fostering Transformational Ideas Hackquarters, renowned for its innovative ecosystem, has been pivotal in fostering transformative ideas in the fintech space. Recognized for its impact, it has run numerous programs and accelerators, earning accolades for its contribution to the startup community.
Conclusion: A New Era of Technological Innovation
Expanding Horizons in Fintech and Beyond This strategic acquisition by Tenity represents a milestone in the fintech and insurtech sectors, promising to expand horizons and amplify innovation across Europe, MENA, and APAC. The combined strengths of Tenity and Hackquarters herald a new era of technological innovation and global connectivity.
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