12 African startups for Village Capital Fintech Accelerator

12 African startups have been selected for the Village Capital and Paypal Fintech Accelerator for 2018. The startups will undergo a three-month training and the best two participants among them will receive US$50,000 investment

The accelerator programme is aimed at promoting the growth of financial technology (fintech) services and bringing millions of unbanked and underbanked Africans closer to the formal economy.

Outrepreneurs reported in November 2017 when Village Capital opened the applications in collaboration with Paypal, an online payment solutions company. At the close of the applications last year, 165 entries were received and the 12 startups have been selected.

The successful startups were selected from three African countries, four each from Kenya, Uganda and Nigeria. The four startups from Kenya include Annona, an online platform for small scale producers, FPESA, an online platform for foreign services, Bima, an online platform for insurance, and Tulaa, a tech startup connecting agri-input sellers, financiers, and buyers to small-holder farmers.

From Uganda, the four startups are Ensibuuko, a cloud-based platform for financial institutions, Mazima Retirement Plan, an online savings platform for people in the informal economy, Numida, a startup providing digital services for SMEs and Patasente, an online supply chain financing platform.

Nigeria’s startups, CredPal, an online credit financing startup, Riby Finance, an online cooperative solution startup , Social Lender , a credit lending startup, and Youverify, an identity verification platform made the cohort.

The accelerator will run from March to May and the startups will have opportunity to meet strategic partners and investors and be mentored by some sector experts and entrepreneurs.



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Deji Aroloye91 Posts

    a graduate of Linguistics and a staff writer at Outrepreneurs, Deji's forte includes tech, startups and innovations. Years back, Deji wrote on Entertainment and Lifestyle for a tabloid. If he wasn't a writer, Deji would be a photographer or teacher.


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