Nigeria-based venture capital firm GreenHouse Capital’s flagship accelerator programme GreenHouse Lab has announced its cohort for 2021. Eight innovative African startups have been selected to take part in the GreenHouse Lab fintech accelerator.
The selected startups will receive $10 000 in investment funding from GreenHouse Capital
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Bunmi Akinyemiju, Founding Partner of GHC comments on the exceptional eight startups selected to take part in the accelerator programme.
“We are excited to be welcoming these fantastic startups into the GHC community. We are always looking to support companies that are a step ahead in their thinking of how to solve everyday challenges that Africans face. Our direct investment into each startup shows our confidence in their potential, and we are also proud to have created a vehicle specifically for African founders to invest alongside us as well.”
The GreenHouse Lab fintech accelerator
The six-week accelerator programme which is currently underway aims to provide the selected participants with valuable insight through exclusive sessions with global investors and corporate partners from Amazon Web Services, Google for Startups and others. In addition, the selected participants will be provided golden nuggets and advice from established startup founders.
All the selected startups will be provided with a reported $10 000 in investment funding from GreenHouse Capital and be in the running for an additional $50 000 from the GHC Founders Fund. This is subject to if the startup has been accepted into a top global accelerator.
GreenHouse Capital Founders Fund is based on the ethos of “founders backing founders” providing established startup founders with a way to give back to the startup community.
Ian Dillon, Co-Founder of NowMoney, a GHC-backed company comments on the importance of supporting young entrepreneurs and the impact that the GHL Founders Fund.
“As a founder, the only people who truly know what it’s like to start and scale a business are other founders. The experienced team at GHC understands this truth and has developed their VC model around it. We are proud to support the GHL Accelerator’s Founder Fund because we believe that founder-led capital dedicated to African startups will help companies develop in a uniquely productive way.”
The selected startups
The eight selected startups that are taking part in the 2021 GHL Fintech Accelerator are:
1.MyInvest
Founded in 2018 and based in Nigeria, the fintech startup aims to provide equal access to real estate investments. Users are able to access ‘verified high-yield’ real estate projects by merely investing $10. This service enables individuals to develop wealth at a low cost.
2.Chumz.io
Based in Kenya, Chumz.io aims to drive equitable access to financial services that promote saving money and provide affordable investment opportunities. Through the use of mobile money, the tech startup is able to provide easy access to investment and financial services.
Collect Africa, a Nigeria-based fintech startup has developed a solution for businesses who need to make multiple payment methods across a range of locations and channels. Multiple payments conducted in various locations and methods can be highly costly, Collect Africa uses a single API on their website to enable their customers to streamline the multiple payment methods.
4.Payhive
The Nigerian fintech startup enables global payment transfers via the use of cryptocurrency wallets through a secure transaction platform.
5.Route
Aiming to democratise financial service access, Route is a fintech startup that provides an online service that allows users to track and manage their savings along with investing to help generate and build wealth. Route is a Kenya-based fintech startup.
6.ScaleX
Providing innovative fintech solutions to cryptocurrency challenges, Nigeria-based ScaleX provides a secure, automated and multi-network P2P platform that will scan and ‘eradicate’ fraud in every transaction. In addition, the fintech platform provides flexibility to trade coins from multiple networks while maintaining and controlling transaction fees.
7.Dojah
Nigeria-based Dojah has created a solution to address the problems surrounding the capturing and verification of customer data. The tech startup collected customer data from various sources and places it into a single API that can verify customer information
8.GetEquity
GetEquity has created a service that enables users to invest in startups and exchange shares on a secondary market. This allows startups to raise funds from multiple sources and in turn, investors can create liquidity by exchanging shares within their portfolio. This solution provides enhanced flexibility and easier access to investing in startups.
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Featured image: Adeolu Eletu via Unsplash
