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Six African Startups Selected As Part Of Catalyst Fund’s Eighth Fintech Cohort

Fintech

News

Tech World

Jan. 28, 2021, 2:49 p.m.

Six African fintech startups have been selected to participate in the recently launched eight cohort of Catalyst Fund’s accelerator programme.

Catalyst Fund is a global accelerator for inclusive fintech startups to support early-stage startups who are building affordable, accessible and appropriate digital financial solutions.

The startups, five of which consist of female founders or co-founders, will join Catalyst Fund’s existing portfolio of 37 companies and receive $110,000 in grant capital, bespoke and expert-led venture building support and one-on-one connections with investors and corporate innovators that can help them scale.

“Today, fintech is rapidly evolving to the point where it’s no longer a standalone vertical. Embedded finance offerings have the potential to significantly improve the value of products in adjacent sectors, while finding new ways to better reach and serve low-income individuals via touchpoints they already know and trust,” said Maelis Carraro, Catalyst Fund’s Managing Director.

“We’re particularly excited about the solutions put forward by this innovative cohort of companies, many of whom are led or co-led by incredible women leaders. They have the potential to really expand the reach of digital financial services by testing new business models and by building the tech infrastructure layers needed to embed financial products in other services”, she added.

The selected startups who will be participating in the latest cohort are:

Lami, providing an insurance platform and API that enables more individuals and businesses to access insurance coverage in Kenya

Koa, enabling users of existing tech solutions to more easily save and invest, gaining control over their finances, in Kenya

Power, enabling gig and salaried workers to easily access earned wages, loans, insurance, payments, and contribute to savings via partner banks to reduce financial stress in Kenya.

Indicina, facilitating lending for individuals and small businesses through AI-powered digital credit infrastructure and credit underwriting services in Nigeria

Jetstream, enabling businesses to efficiently and affordably export goods across borders and access trade financing in Nigeria and Ghana

Kandua, empowering skilled home service professionals with greater access to customers, professional tools, and digital financial services, in South Africa

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Dorcas

Dorcas Benewaa Author

Dorcas is an upcoming journalist. She loves the creative arts and loves to write about startups, digital arts and issues in the tech sector.

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