Six African fintech startups have been selected to participate in a prestigious Catalyst Fund-facilitated accelerator program. Its flagship inclusive fintech accelerator is supported by the UK Foreign, Commonwealth, and Development Office (FCDO) and JPMorgan Chase & Co., and fiscally sponsored by Rockefeller Philanthropy Advisors.
The 8th cohort for its Inclusive Fintech Program was announced today by Catalyst Fund, a global accelerator operated by BFA Global.
The accelerator runs the flagship program annually and selected startups receive £ 80,000 (~$100,000) in grant funding, six months of support, and ties with follow-on investors, with an emphasis on Kenya, Nigeria, South Africa, Mexico, and India.
In addition, five startups founded by women and with female co-founders are in the selected cohort.
Here are the startups in the 8th cohort.
- Jetstream, which enables companies to export goods across borders cost – effectively and access trade financing in Nigeria and Ghana
- Koa, Enabling users of current technology solutions to save and invest more easily and gain control of their finances in Kenya
- Lami, Providing an insurance portal and API that allows more people and companies in Kenya to access insurance coverage
- Power, Enabling employees to easily access earned salaries, loans, pensions, payments and contribute to savings through partner banks to alleviate Kenya’s financial burden.
- Indicina, Facilitating lending through AI-powered digital credit infrastructure and credit subscription services for individuals and small businesses in Nigeria
- Kandua, Empowering trained home service professionals in South Africa with greater access to consumers, technical resources, and digital financial services