Three African fintech startups are among six worldwide that have been selected to be part of a global accelerator’s portfolio.
South Africa’s PayMeNow and Nigeria’s WellaHealth and Flex Finance, as well as startups from Mexico and India, make up the latest additions to Catalyst Fund’s 31-strong company portfolio. Catalyst Fund is an accelerator for inclusive fintech startups and innovation ecosystems in emerging markets.
The six startups are all developing solutions to equip households and businesses with financial tools to support their livelihoods and build financial resilience in the wake of the COVID-19 crisis. Each will receive GBP80 000 in grant capital, bespoke and expert-led venture-building support for six months, and one-on-one connections with investors and corporate innovators that can help them scale.
‘We are facing a catalytic moment during which there is an opportunity to use technology to help low-income consumers and small businesses recover from the impact of COVID-19 and build greater financial resilience for the future,’ says Maelis Carraro, Catalyst Fund director. ‘These innovations can grow to play a critical role in improving financial health globally.’
