Empowering fintech growth: Matouk Bassiouny ’ s UAE expansion

As the Middle East and North Africa (MENA) region continues to grow and innovate, Matouk Bassiouny has not only established itself as Egypt’s leading legal institution but has also become a key player in the burgeoning fintech sector. Honoured as Egypt’s national law firm of the year 2014, 2016, 2017, 2020, and 2023 by the International Financial Law Review, Matouk Bassiouny’s narrative takes a compelling turn with the establishment of its fintech department. A significant milestone unfolded in 2020, solidifying the firm’s unmatched position for fintech legal services in the region. With the aim of dedicating his professional career to fintech, Mohamed Essam, a Partner in Matouk Bassiouny and head of fintech and emerging companies and venture capital (FECVC), stands as one of the very few attorneys who introduced fintech in Egypt. With nearly a decade of expertise in both technology and financial technology, he continues to shape the landscape of this dynamic industry. Matouk Bassiouny’s foray into the fintech realm underscores its dedication to innovation and adaptability to meet the evolving needs of clients. In less than three years, the department has not only gained credibility but has also firmly established itself among the industry’s major players.

The FECVC team redefined legal support by pioneering a groundbreaking one stop-shop concept, being positioned as the foremost legal counsel capable of addressing every client need in the legal realm. From doing business reports, incorporations, and operations to fundraising, managing licensing, handling litigation matters, securing venture capital, and even assuming the role of an in-house team, the FECVC team’s comprehensive suite of services eliminates the need for clients to coordinate with multiple legal advisors within each area of law.

The FECVC team stands out significantly in the market due to its exclusive day-to-day involvement in its clients’ matters and business work. By providing an all-encompassing solution, the FECVC team ensures and offers clients the advantage of a singular point of contact while maintaining the versatility to cater to their diverse legal requirements. Further, what distinguishes the FECVC department is its unique blend of legal excellence and an in-depth understanding of each client’s product. With team members possessing technical backgrounds, their goal is to delve into the intricacies of clients’ products, providing legal protection that surpasses standard legal services. This innovative approach has not only expanded the team’s client base but also instilled a sense of security and confidence in an industry that is constantly evolving.

Having represented over 80 clients in both Egypt and the UAE, the FECVC team boasts a remarkable client portfolio. It has not only solidified its regional influence but also established itself as a benchmark for market practice. The FECVC team’s diverse clientele is a testament to its ability to meet the varied needs of industry leaders, demonstrating a capacity to provide tailored legal solutions across multiple sectors. Experience statements are available upon individual request, attesting to the team’s depth of expertise. The FECVC department currently dominates a significant portion of the market in Egypt and aspires to extend this influence throughout the MENA region.

In a strategic move in 2023, Matouk Bassiouny extended its FECVC department to the UAE, a clear indication of its commitment to fostering the FECVC sector. This forward-thinking move aligns seamlessly with Matouk Bassiouny’s overarching commitment to proactively embrace technological advancements and adapt to the evolving needs of its clients.

TFT: How does the FECVC department uniquely support emerging fintech companies?

MB: The FECVC team is committed to nurturing emerging companies from inception to reaching the unicorn stage. Recognising the challenges faced by early-stage companies, Matouk Bassiouny takes a pioneering approach by offering discounts of up to 40 per cent for first-stage companies. This initiative is a testament to the FECVC team’s commitment to fostering innovation and ensuring that emerging players have access to top-tier legal services that propel them toward success.

TFT: What are the distinct services offered by the FECVC team across the different areas it works on?

MB: The FECVC department is distinguished by its key services spanning three vital areas: fintech, technology and venture capital. Within these domains, the team operates at the forefront of advisory services, offering unparalleled expertise to guide clients through the intricacies of their business endeavours.

In the fintech and technology sectors, the FECVC team leverages a unique blend of legal excellence and technical understanding. When it comes to venture capital, the FECVC team offers its services from the inception of ventures to guiding companies through angel investment rounds to full exits.

This distinguishes the FECVC team, showcasing its dedication to being a long-term strategic partner and a one stop-shop rather than just a legal advisor.

TFT: What is an example of one of the FECVC team’s clients experiencing the one stop-shop service?

MB: The FECVC department contributed to a transformative success story with one of the leading fintech companies in line with providing a rotating savings and credit association product (ROSCA). As the company approached the FECVC team with a new idea, our team led collaborative product roadmap sessions that conceptualised innovative legal structures, ensured the new idea is legally compliant with the applicable law, and secured necessary governmental approvals.

Matouk Bassiouny’s foray into the fintech realm underscores its dedication to innovation and adaptability to meet the evolving needs of clients. In less than three years, the department has not only gained credibility but has also firmly established itself among the industry’s major players

Afterward, the FECVC team seamlessly facilitated the incorporation of the corporate entity, setting up a distinctive profile within the industry. Our team assumed the role of lead legal counsel, steering the company through multiple investment rounds and actively engaging in day-to-day operations, including contracts and legal documentation. Today, this client stands as a testament to the firm’s commitment to nurturing startups from ideation to corporate excellence in the ever-evolving world of fintech.

TFT: Does the FECVC team extend beyond Egypt and the UAE?

MB: The FECVC team transcends borders, showcasing a truly international approach to its legal services. While being deeply rooted in Egypt, the FECVC team’s impact resonates globally, with the ability to advise on cross-border matters and restructuring including in the MENA region, Netherlands, and the United Kingdom. This expansive reach not only underscores the team’s adaptability to diverse legal frameworks but also reinforces the FECVC team’s commitment to providing tailored and strategic counselling on an international scale. Clients benefit from the team’s deep understanding of legal intricacies across multiple regions, solidifying Matouk Bassiouny’s position as a trusted partner for ventures with a global footprint. On an important note, the FECVC team’s venture into the UAE marks a thrilling chapter in Matouk Bassiouny’s story. The FECVC team has assumed the role of lead counsel, heading strategic legal services for major fintech players in the areas of cross-border remittance, digital lending, venture capital funds, crowdfunding, ROSCA, and payment companies. This expansion signifies not just a geographic reach but a commitment to contributing to the future of fintech and venture capital in a new and dynamic market. Matouk Bassiouny is enthusiastic about the opportunities this move brings, poised to elevate our contribution and expertise to further empower businesses in the UAE We anticipate a chapter of innovation, growth, and success as we embark on this exciting journey. Unlock tailored legal support, designed based on your company’s scale and fundraising stage, with our exclusive packages and retainer options. Elevate your journey with the FECVC team’s one stop-shop concept, and rest assured; your success is the FECVC team’s goal!

■ Connect with the FECVC team, via mohamed. essam@matoukbassiouny.com and shape the future of your business.