While the accelerator is available across five countries in three continents, this year’s cohort which is its 8th were all selected from Africa – Kenya, Nigeria, and South Africa.
Each startup will receive £80,000 (US$100,000) in grant capital, bespoke and expert-led venture building support for six months and 1:1 connections with investors and corporate innovators that can help them scale.
This is part of Catalyst US$15 million additional Fund announced from UK aid and JPMorgan Chase & Co., to accelerate 30 new inclusive Fintech startups across Kenya, Nigeria, South Africa, Mexico, and India who are building affordable, appropriate and accessible solutions for underserved customers, by 2022.
Below are the selected startups:
Koa (Kenya): Enables users to save and invest through a mobile application available on App store and Google Play gaining control over their finances.
Lami (Kenya): An insurance platform and API that enables more individuals and businesses to access insurance coverage.
Power (Kenya): Allows gig and salaried workers access to earned wages and other financial services, and contribute to savings via partner banks.
Indicina (Nigeria): Facilitates lending for individuals and small businesses through AI-powered digital credit infrastructure.
Jetstream (Nigeria): Allows businesses to export goods across borders and access trade financing in Nigeria and Ghana.
Kandua (South Africa): Connects skilled home service professional
Image Credits: Catalyst Fund