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UPDATE (23 March 2020): Subsequent to the publication of this article, the Luxembourg House of Financial Technology (LHoFT) added Nigerian startup SmartTeller and Ghanian and US based startup Ozé to the bootcamp as well. The story has been updated to reflect this.
The Luxembourg House of Financial Technology (LHoFT) has announced the names of 11 African fintech companies selected for its Catapult: Inclusion Africa fintech bootcamp which takes place next month in Luxembourg.
The fully funded week-long bootcamp — which runs between 1 and 8 March — is an initiative of LHoFT and is sponsored by PWC and Luxembourg Aid and Development.
The announcement of the 13 startups was made last Wednesday (11 February) on LHoFT’s website.
LHoFT has announced the names of 11 African fintechs that will take part in a bootcamp in Luxembourg next month
LHoFT announced in December that it had 12 spots available for the second edition of the programme (see this story). In the end, 13 startups were chosen.
The 13 startups are:
CinetPay (Côte d’Ivoire): A mobile money, credit card and other wallet payment gateway allowing e-commerce sites, e-service, companies and institutions to accept all means of payment online or offline in eight African countries.
A-Trader (Tanzania): The startup is building a robo-advisor to provide automated investment recommendations for Africa’s growing middle class through real-time access to Africa’s stockmarkets, savings and investments options, and easily understandable structured financial instruments.
Dundiza (Tanzania): The first digital wallet platform that enables young people and women living in marginalised communities to securely save and manage their money instantly while being to gain competitive interest and access credit scorings from the savings.
Esusu (Nigeria): Esusu Africa Limited is tackling the problems of informal savings schemes across Africa. It does this through Electronic Esusu, a digital platform designed to simplify thrift savings, collections and microcredit towards enhancing delivery of digital financial services to the last mile.
Eversend (France): Eversend is building a neobank for Africans, anywhere in the world. The multi-currency e-wallet allows users to exchange, spend and send money at the best possible rates. Insurance, virtual debit cards, and bill payments, and USSD channels so that anyone with a mobile phone can access financial services.
Exuus (Rwanda): Exuus aims to leverage the power of informal collective saving schemes through a digital and decentralised collective wallet for saving groups. The startup has created Save, to allow both unbanked and underbanked population to access financial services without necessarily having a bank account.
PaddyCover (Nigeria): The startup offers an insurance service aggregator, powering affordable pay-as-you-go insurance in Nigeria and Africa, working with established insurers and customer aggregators to offer a multi-channel platform that facilitates flexible and convenient payment.
People’s Pension Trust (Ghana): Offers pension products to workers in the informal sector (farmers, market woman, self-employed, taxi drivers and others) for which people can save daily, weekly or monthly, with flexible contribution amounts, done by mobile phone or other means.
Pezesha (Kenya): Pezesha is a holistic digital financial marketplace & infrastructure for underserved small firms in Africa. Offering lending, financial education, and debt counselling to borrowers, plus a proprietary credit scoring system to vet small businesses without a credit history, de-risking lending to such firms.
SympliFi (UK): SympliFi is a global online marketplace that enables diaspora around the world to easily access impactful financial solutions in their home country for self and family, at the touch of a button, because people want to do more than just send money back home.
uKheshe (SA and UK): The startup offers a unique digital payment acceptance platform that enables informal merchants and traders to accept card payments without the need of a bank account, smartphone or formal business registration. Using payments as the catalyst to access broader financial services such as lending and insurance.
SmartTeller (Nigeria): The startup offers a digital banking platform for financial co-operatives, bringing access to digital financial services to the underbanked by providing cooperatives and microfinance institutions the all-inclusive tool to provide standard financial services.
Ozé (Ghana, US): The startup brings African SMEs into the digital era with an app that makes it easy for businesses to track sales, expenses, and customer information. The data is analysed to provide tailored recommendations, reports, and business insights. If the entrepreneur needs a little extra support, a coach is just a click away.
Read more: Fintech startups have until 15 January to apply for Catapult: Inclusion Africa 2020 bootcamp [Updated]
Read more: Ugandan fintech wins Best Catapulter Award at Catapult: Inclusion Africa
Read more: Nine African fintech startups selected for Catapult: Inclusion Africa bootcamp
Featured image: LHoFT via Facebook