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Accelerator programme Innotribe has chosen 10 startups for the third edition of the Startup Challenge Africa, for secure financial messaging provider Swift’s African Regional Conference which takes place in Abidjan, in the Ivory Coast, later this month.
The 10 were selected after 100 judges evaluated close to 100 applications. Applications came from a number of African countries with SA, Nigeria and Kenya filling up most of the positions.
“It is a pleasure for us to see the number of African startups applying to our programme growing year after year. Their calibre continues to impress, and there is no doubt they are going to play an important role in shaping the future of finance,” said Fabian Vandenreydt, Innotribe’s global head of securities markets and head of the Swift Institute, in a press release to Ventureburn.
Swift startups ‘to play an important role in shaping finance’
Participating startups are as follows:
- FinChatBot — An SA startup utilising chatbots to make financial services more inclusive.
- FINT — a Nigerian peer-to-peer lending platform providing users with access to affordable loans.
- Inclusiveft — a Ghanaian startup dabbling in verification API which helps businesses verify identities via digital channels.
- IroFit Technologies — a Nigerian startup which allows users to process in-store mobile or card purchases even when there’s no internet connection or not.
- Mobbisurance — an SA startup which offers emerging farmers with crop insurance.
- Ovamba — a Cameroonian startup which provides small businesses with short-term trade and growth capital.
- Releaf — a Nigerian startup which leverages big data analytics, allowing foreign investors to invest easily into African markets.
- Sokowatch — a Kenyan ordering and distribution network for small shop-keepers.
- ThisIsMe — a SA startup using proprietary technology to verify and secure your online experience.
- Vugapay — a Rwandan mobile wallet that can be recharged using Bitcoin, mobile money, debit and credit cards as well as from bank accounts.
These startups will be pitching their new products on 17 May in front of hundreds of delegates from more than 40 countries, during Swift’s African Regional Conference. This will also serve as a platform for the startups to network with potential investors, partners and customers.
The selected startups will undergo coaching sessions in Abidjan with top entrepreneurs to prepare them for their pitching day.
Once the selected startups have concluded with their pitches the audience will vote for who they thought were the top three startups. The top three will then go on to Sibos, Swift’s global financial services conference which will take place from 16 to 19 October in Toronto, Canada.
At Sibos, the winning startups will receive a $10 000 cash prize as well as share the stage with other FinTech experts to share their innovations and insights happening in Africa.
“The Startup Challenge is an enriching experience for all participating companies. They benefit from expert mentoring and get that much-needed exposure to financial institutions,” said Vandenreydt.