Visa Announces African Startups for Accelerator Program

Visa has unveiled the African startups chosen to participate in the second edition of its comprehensive Fintech Accelerator program across the continent. The program offers a rigorous 12-week journey, providing seed and Series A startups with tailored training sessions and personalised mentorship opportunities.

Participating startups will gain exclusive access to Visa’s resources, professional development opportunities, and potential funding. This year’s cohort boasts expanded geographic diversity, with startups representing 28 African countries, a significant increase from the 18 countries in the inaugural program.

A notable trend in this year’s selection is the rise in female-led startups, increasing from 43% to an impressive 65% of the cohort.

The selected startups address various challenges and opportunities within the African fintech sector, offering innovative solutions in areas such as neo-banking, merchant payment systems, credit assessment, risk and identity management, integrated finance, social commerce, and escrow services.

Aida Diarra, Visa’s Vice President and Head of Sub-Saharan Africa, reiterated Visa’s commitment to fostering innovation and promoting financial inclusivity and accessibility across the financial ecosystem.

Launched in June 2023, the Visa Fintech Accelerator program is part of Visa’s broader initiative to advance Africa’s digital economy. This initiative is supported by Visa’s ambitious investment plan, aiming to inject $1 billion by 2027 to transform the continent’s payment infrastructure.

The program will culminate in a virtual Demo Day event, where participating startups will present their innovative solutions to key figures in the fintech industry, including potential investors, angel investors, and venture capitalists.

The selected startups and their areas of focus include:

  • CheckUps Medical Hub (Kenya): Embedded finance in the healthcare sector.
  • AzamPay (Tanzania): B2B marketplace for smoother transactions.
  • Beem (Tanzania): Social commerce for business-consumer interactions.
  • Aku (Nigeria): Neo-banking platform for innovative banking solutions.
  • Cleva (Nigeria): Efficient money movement solutions for financial transactions.
  • Curacel (Nigeria): Technology-driven insurance management to streamline claims.
  • E-doc Online (Nigeria): Secure sharing of financial information through open banking.
  • Raenest (Nigeria): Financial technology solutions for enhanced money movement.
  • Bridgecard (Nigeria): Infrastructure provision for various financial services.
  • Truzo (South Africa): Escrow services to secure transactions and build trust.
  • Bizao (Ivory Coast): Merchant payments solution for simplified payment processes.
  • Hub2 (Ivory Coast): Essential infrastructure for enabling fintech services.
  • Chapa (Ethiopia): Merchant solutions for improved business transactions.
  • Vaultpay (Democratic Republic of Congo): Merchant payments to aid financial transactions.
  • Iwomi Technologies (Cameroon): Money movement for better transaction processes.
  • Proboutik (Cameroon): Merchant payments solution for enhanced business transactions.

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