Cashbasha Wins Start-Up Istanbul 2016 Challenge

تم نشره في Sun 23 October / Oct 2016. 12:00 AM
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AMMAN — CashBasha, a regional e-commerce technology firm founded by Jordanians, recently won the Start-up Istanbul 2016 Challenge, coming in first place out of 2,700 start-up companies who applied to be part of the event across Asia, Europe, the Middle East and North Africa.

More than 5,000 people attended the event in Istanbul, which brought together entrepreneurs, executives from tech and internet companies, and investors from across Asia and Europe.

The process for the award was extremely comprehensive; out of 2,700 start-up applications from over 135 countries, 4,000 were shortlisted. Then a start-up selection team interviewed and selected the most promising 100 start-ups who were physically present at the four-day event.

Only 50 of them moved on to pitch to investors and competed to be one of 15 finalists that underwent another round of judging by a seasoned panel of experts and investors from firms like 500 Start-ups, Y Combinator, Abraaj Capital, and others.

Co-Founder of CashBasha, Fouad Jeryes, who received the award on behalf of the company, said "representing the Middle East and Jordan in this global event for start-ups is truly a testament to the growing e-commerce sector in the region.'' He noted that "by receiving this recognition, we hope to serve as an example for all the other Arab start-ups to continue pursuing their ambitions to solve the problems we face in our corner of the world and raising the innovation bar for the entire region.'' Jeryes added, "when we established CashBasha, we set out to fill a specific need in the Middle East market and that was to build technologies to map the local and unbanked mentality to international sites so that customers could shop without the logistical hassles or unpredictability in pricing. Customers can pay for their orders in cash and get their items to their door as easily as if they were in the US." CashBasha currently serves customers who are looking to shop from’s entire US catalogue and have it delivered to them in the region.