Visa Opens Applications for Batch 2 of Accelerator Program

Visa, a global leader in digital payments, has announced the opening of applications for the second batch of its Africa Fintech Accelerator program. The announcement was made during Fintech Day in Morocco, where discussions focused on enhancing the nation’s digital payments and financial inclusion landscape.

Startups in Africa, ranging from seed to Series A stages and operating within specific categories, are encouraged to apply via Visa’s website by February 29th, 2023. The program aims to support innovative fintech solutions that contribute to transforming Africa’s payment system and boosting the digital economy.

Visa plans to host the program’s first demo day in Nairobi on February 13th, where startups from the first cohort will present their innovations to key ecosystem participants, funding partners, angel investors, and venture capitalists.

The first cohort involved startups from over 18 African countries, covering various sub-sectors such as merchant payment solutions, lending infrastructure, Banking-as-a-Service, and B2B marketplaces. Notably, 48% of these startups had a female founder or a woman in a leadership role.

Seed to Series A startups in Africa operating within specified categories are invited to apply for the second group, focusing on areas such as unlocking money movement, embedded finance, empowering merchants and SMEs, payment infrastructure enablers, the future of finance, and sustainable and inclusive finance.

The program, launched in June 2023, aligns with Visa’s commitment to invest $1 billion in Africa by 2027. The goal is to drive innovation in payment systems and contribute to the growth of the digital economy on the continent.

Ayoub Rqibi, COO and Co-founder of Paytic Connect, a participant in the first cohort, expressed gratitude for the program, highlighting its role in clarifying goals, structuring approaches strategically, and providing comprehensive guidance and mentorship. The success of the inaugural accelerator has prompted Visa to welcome a new batch of startups, offering them mentorship, accelerated growth, and access to a broad network of important partners and investors, according to Leila Serhan, Senior Vice President and Group Country Manager for North Africa, Levant, and Pakistan at Visa.

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