SA fintech selected for prestigious accelerator programme

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 SME Snapshot has been selected for the esteemed 2020 Grindstone Accelerator program which is targeted at technology businesses with high potential. 

SME Snapshot has been selected for the Grindstone Accelerator program

The innovative fintech operator SME Snapshot has developed a platform that integrates with the user’s accounting system.

It is aimed at assisting accountants, financial managers and entrepreneurs access real-time data analytics of their businesses. Simplifying data, users are able to access information on a single dashboard.

 In addition, the platform allows entrepreneurs to compare their key business metrics such as profitability against other industry peers, providing insightful information on how to improve their data output and business plan. 

This is not the first accolade that SME Snapshot has received this year as ti was previously selected as part of the Africa-France Summit and Digital Africa for the title of ‘one of the technology firms to watch on the African continent’.

The Grindstone Accelerator Program 

The accelerator is a structured entrepreneurship development program aimed at assisting high-growth and innovative companies to establish a foundation to scale their businesses in a rapid period of time, become more sustainable and funding-worthy. 

Tyronne Nel, Director of SME Snapshop explains that the fintech startup is gathering a huge customer base. 

“2020 has been a good year for us from both customer acquisition and industry recognition perspective. We are expecting to have over 10 000 people on the system by the end of the year and this will greatly enhance our ability to provide real-time data on the health and wellbeing of SMEs.” 

Nel points out that access to higher quality data around financial trends in sectors could be a significant catalyst for opening up funding channels and allowing for more scalable and higher impact Enterprise and Supplier Development initiatives. 

“In South Africa, funding is expensive because funders cannot mitigate their risk with access to aggregated data – as SME Snapshot scales, we can play a pivotal role in driving down the cost of funding,” explains Nel. 

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Featured image: Bongkarn Thanyakij via Pexels 

Ishani Chetty: Editor
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