The VISA Africa Fintech Accelerator has announced 19 new startups shortlisted to participate in its bi-annual program.
The startups, drawn from 21 African countries and diverse sub-sectors, from embedded finance and SME lending to digital banking, the startups will gain access to tools, connections, and expertise to scale their solutions, aligning with VISA’s ongoing investment in Africa’s digital transformation.
VISA, which recently revealed strategic investments in Oze, Workpay, OkHi, and ORDA, graduates of the program, has worked with up to 45 startups a year to take part in the intensive 12-week program.
FUNDING | VISA Announces Investments in 4 Fintech Startups Across Africa
Launched in June 2023, the VISA Africa Fintech Accelerator program provides up to 40 startups annually with a three-month intensive learning program https://t.co/zV15aUUqGW @VisaNews pic.twitter.com/AhHInnhxNm
— BitKE (@BitcoinKE) November 8, 2024
As reported by BitKE in 2023, VISA launched the accelerator as part of its commitment to invest $1 billion in Africa’s digital transformation with the goal of offering expertise, connections, technology, and investment funding to enable the growth and success of fintech startups across the continent.
Visa Launches Visa Africa Fintech Accelerator Program to Empower Startups in Africa
Starting from July 2023, fintech startups from across Africa can apply for the programhttps://t.co/4U731dTvNC @VisaNews pic.twitter.com/oonC2NvLbP
— BitKE (@BitcoinKE) June 21, 2023
The 19 startups selected for Cohort 3 of the VISA Africa Fintech Accelerator are:
1.) Credable (Kenya) – Credable is a digital banking platform that helps businesses and financial institutions across the Middle East and Africa (MEA) embed financial services into their core offerings.
2.) Fixa (Rwanda) – Fixa is an end-to-end staffing platform. Their software enables quick sourcing and deployment of on-demand blue-collar workers to businesses across Africa.
3.) Kacha (Ethiopia) – Kacha is the first fully licensed private payment instrument issuer in Ethiopia, offering mobile money, bill payments, and remittances through their platform.
4.) Melanin Kapital (Kenya) – Melanin Kapital is building a carbon neobank for African businesses to access green loans and carbon credits.
5.) Umba (Kenya) – Umba is a fully licensed digital microfinance bank, offering bank accounts and financial services to customers in Kenya and Nigeria.
Nigerian Digital Bank, Umba, Raises $15 Million in Series A Funding https://t.co/vmXK4K8bfZ
— BitKE (@BitcoinKE) April 21, 2022
6.) Zendawa (Kenya) – Zendawa is enabling neighborhood pharmacies to sell online and use embedded finance services.
7.) Enza (Egypt) – Enza helps banks better engage SMEs with mobile-led acceptance and extends banks’ current offerings to SMEs with lending and deposits.
8.) Moneco (Algeria) – Moneco is a neobank that links Europe to Africa with the aim of easing access to bank accounts for the African diaspora.
9.) MoneyHash (Egypt) – MoneyHash consolidates multiple payment APIs into a single integration point, simplifying the payment and routing process for their merchants.
FUNDING | Egyptian Fintech, MoneyHash, Raises $4.5 Million Seed Round to Expand Payment Orchestration Platform – https://t.co/f5rDHg1lcc#Funding #Startups #Fintech #PaymentOrchestration
News Summary in Replyhttps://t.co/WGKVMCgIz4
— Funding News (@fundingnews_) March 1, 2024
10.) WafR (Morocco) – WafR has developed a digital wallet that allows informal merchants to market financial services across Morocco.
11.) Block Markets Africa (South Africa) – Block Markets Africa uses real-world asset tokenization to build open financial markets infrastructure (FMI) and institutional applications.
12.) Jabu (Namibia) – Jabu provides a suite of cash management and digital financial service products across Southern Africa.
13.) Ordev (South Africa) – Ordev is an aggregated middleware platform that integrates digital services and providers for retail and hospitality businesses across Africa.
14.) Sticitt (South Africa) – Sticitt simplifies school-related payments to increase collections from parents and the wider community while reducing admin work.
15.) Bumpa (Nigeria) – Bumpa is powering digital commerce for retail and D2C businesses in Africa.
Nigerian SME Automation Platform, Bumpa, Raises $4 Million in Seed Round
Until now, Bumpa has: * Worked with over 50,000 businesses * Helped its clients record over 200,000 orders * Enabled its clients trade a gross merchandise volume of $20 millionhttps://t.co/nIvbkS1u66
— BitKE (@BitcoinKE) October 28, 2022
16.) Kredete (Nigeria) – Kredete is a digital lending marketplace that provides an all-in-one credit infrastructure for borrowers and lenders across the continent.
FUNDING | Nigerian Web3 Fintech, Kredete, Raises $2.25 Million After Crossing 300,000 Users and Over $100 Million in Transactions
Kredete leverages blockchain technology to enable African immigrants to build credit scores and send money home with low fees.
On average, users… pic.twitter.com/1xfpASRhqX
— BitKE (@BitcoinKE) September 4, 2024
17.) NearPays (Nigeria) – NearPays is a full-service payment platform for businesses to pay, accept payments, transfer funds, and track cash flow.
Nigerian Startup, NearPays, Wins Inaugural Gitex Africa Fintech and Blockchain Award in Morocco
The *shortlist* of the startup pitch competition was *selected from more than 300 applications*.https://t.co/7IyDrlwYNR @nearpays pic.twitter.com/L9hDBmxiSB
— BitKE (@BitcoinKE) June 13, 2023
18.) PaySika (Cameroon) – PaySika is building the first challenger bank in Central Africa, empowering both individuals and SMEs to receive IBANs and transfer money across Africa.
19.) WeWire (Ghana) – WeWire is a B2B cross-border payments solution to help businesses easily collect and pay their vendors, suppliers, and trade partners.
The three-month program will conclude with an exclusive in-person Demo Day, offering startups the opportunity to showcase their groundbreaking solutions to an audience of investors, industry leaders, and potential partners.
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