GoBarakah, a Shariah-compliant e-voucher platform, has emerged as the winner of the Securities Commission Malaysia’s (SC) FIKRA ACE Accelerator.
The accelerator is part of a three-year initiative aimed at advancing the Islamic Capital Market (ICM) through innovative fintech solutions.
The GoBarakah platform streamlines the distribution of donations, corporate social responsibility (CSR) funds, and zakat to verified beneficiaries, ensuring 100% of the funds reach those in need.
As the winner, GoBarakah received a cash prize of RM50,000 at the SCxSC Fintech Summit 2024.
Producst2U and Koha Digital secured second and third places, winning RM30,000 and RM20,000, respectively.
The FIKRA ACE Accelerator supports Islamic fintech development through an intensive 8-week programme offering mentorship, market access support, and regulatory guidance.
This year, 25 startups participated, with the top 10 finalists pitching their solutions to judges and potential investors at the summit.
The initiative is organised in collaboration with accelerator partner NEXEA, and ecosystem partners Malaysia Digital Economy Corporation (MDEC) and the Islamic Development Bank (IsDB).
Featured image: GoBarakah (third from left) emerged as the winner of this year’s SC FIKRA ACE Accelerator programme, followed by Products2U (far left) in second place, and Koha Digital (far right) in third place. The prizes were presented by SC Executive Director for Digital Strategy and Innovation Dr. Wong Huei Ching (third from right), and Associate Manager of Knowledge Solutions at the Islamic Development Bank Institute (IsDBI) Dr. Hilal Houssain (centre).
