Three African startups make it into Katapult Accelerator’s third cohort

Oslo-based Katapult Accelerator has selected three African startups from Kenya, Egypt and Tunisia to join its third cohort, comprised of 12 startups from around the world.

The three are Kenyan banking solution FinAccess, Egyptian edtech PraxiLabs and Tunisian tech talent accelerator Think.iT.

In a statement last week Katapult Accelerator managing partner and co-founder Haakon Brunell (pictured above, left) said the 12 startups had been selected from among 1500 companies from 107 countries.

The three African startups, along with the rest of the cohort, will each receive a $150 000 equity investment from the Katapult Accelerator Fund

Brunnel explained that the accelerator provides participants with “an environment of opportunities” and an ecosystem to enhance their business model and scale.

“Our goal for each company is to prepare them for their next investment round, so that they achieve two to three times their original valuation, a track record we aim to keep,” noted Brunell.

Katapult Accelerator’s three-month long programme aims to scale businesses and scale their impact. Each of the 12 startups will receive a $150 000 equity investment from the Katapult Accelerator Fund.

In addition, the accelerator’s programme also provides participants access to its network of global investors and partnerships that can boost startups into their next phase of development, specific to their growing needs.

Applications for Katapult Accelerator’s fourth cohort, which kicks off next year in February, are now open and close 2 November. Check out the video of the official launch of Katapult Accelerator’s third cohort here.

Featured image: Katapult Accelerator managing partner and co-founder Haakon Brunell speaking at the accelerator’s official launch of its third cohort last Monday (Katapult Accelerator via Twitter)