Catalyst Fund names Inclusive Fintech startups, three from Africa

Catalyst Fund has revealed the six startups, three of whom operate in Africa, who make up the ninth collection of its Inclusive Fintech programme.

The fund announced the startups on 2 August.

At the same time, Catalyst Fund welcomed PayPal as a new supporter. The online payments company joins existing supporters such as the UK Foreign, Commonwealth and Development Office (FCDO), and JPMorgan Chase & Co.

The fund also announced it would place extra focus on digital finance solutions that combat climate change.

The three fintech companies from Africa include Crop2Cash from Nigeria, HealthDart from SA, and Kazi from Kenya

“Climate change is already severely impacting low-income populations in emerging markets, who lack financial safety nets to cope with these additional shocks,” Managing Director, Maelis Carraro, said in a statement.

“Digital finance can be a game-changer in enabling climate resilience solutions to better reach vulnerable populations, as we’ve already seen the ways in which it can enhance the breadth, depth, and affordability of solutions across industries.”

Catalyst Fund Inclusive Fintech programme helps startups grow

The three fintech companies from Africa include Crop2Cash from Nigeria, HealthDart from SA, and Kazi from Kenya.

Crop2Cash offers digital financing solutions to smallholder farmers.

HealthDart provides access to medication and health services to users in low-income areas.

Kazi serves as a jobs portal for skilled and casual informal workers. It also offers services such as tools leasing and digital payments.

The other three companies in the collection include Ohm Mobility (India), PocketFin (India), and Verqor (Mexico).

The six companies will join Catalyst Fund’s existing portfolio of 45 companies. They will receive catalytic capital, building support from the fund’s manager, BFA Global, and direct connections with investors and partners to help them grow.

To date, the fund has raised more than $247-million in follow-up funding.

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Featured image: Brandy Kennedy via Unsplash