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Nigerian Startups Dominate the 2nd Cohort of Visa’s Africa Fintech Accelerator Program

Visa Africa Fintech Accelerator program

Visa has announced the startups shortlisted to take part in the second cohort of its Africa Fintech Accelerator program. Visa says 20 startups have been shortlisted but has only shared 18 of them. Out of the 18 shortlisted startups, 6 were from Nigeria, these are:

NCBA twende mbele june banner
  • Aku – Nigeria – Neo-banking
  • Cleva – Nigeria – Money Movement
  • Curacel – Nigeria – Insurance Management
  • E-doc Online – Nigeria – Open Banking
  • Raenest – Nigeria – Money Movement
  • Bridgecard – Nigeria – Enabler Infrastructure

The rest of the startups come from the other regions across Africa including Kenya, Nigeria, Ethiopia, South Africa etc. Have a look at the other startups below. 

  • Chapa – Ethiopia – Merchant Solutions
  • CheckUps Medical Hub – Kenya – Embedded Finance (Health)
  • AzamPay – Tanzania – B2B Marketplace
  • Beem – Tanzania – Social Commerce
  • Bizao – Ivory Coast – Merchant Payments Solution
  • Hub2 – Ivory Coast – Enabler Infrastructure
  • Iwomi Technologies – Cameroon – Money Movement
  • Proboutik – Cameroon – Merchant Payments Solution
  • Vaultpay – Democratic Republic of Congo – Merchant Payments Solution
  • Ordev – South Africa – Merchant Value Add Solutions
  • Truzo – South Africa – Escrow Services
  • Lupiya – Zambia – Neo-banking

Visa Africa Fintech Accelerator program Timeline

The Accelerator program, launched in June 2023, is reflective of Visa’s ongoing efforts to help uplift the digital economy in Africa, including a pledge to invest $1 billion in the continent by 2027 to help revolutionize the payments ecosystem.

This is a biannual program that offers 12 weeks of 1:1 mentorship and personalized training, providing seed to series A startups with exclusive opportunities to access funding, development, and resources.

The 2nd cohort operates across 28 African countries compared to the first one that only had 18 countries. 65% of the startups feature female leadership, rising from 43% in the inaugural edition.

Aida Diarra, Vice President, and Head of Sub-Saharan Africa at Visa remarked: “At Visa, we believe in uplifting innovation while driving access and inclusion across the financial ecosystem. Today, we are proud to say that our second cohort of Accelerator participants represents more than 50% of countries across Africa, up from a third during our first cohort. Not only that–but women are in leadership roles across the majority of these cutting-edge startups. We have a robust, diverse selection of innovators seeking to shape the future of commerce and finance – and Visa is happy to help them take the next step to where they need to be.”

The 12-week virtual Accelerator program will conclude with an in-person Demo Day, where startups will have the opportunity to pitch their innovations to key ecosystem players, funding partners, angel investors, and venture capitalists, enabling them to take small steps towards unlocking their full potential.

Now Read: Applications are Now Open for the Visa Everywhere Initiative 2024

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Editor at TechArena. I cover all things technology and review new gadgets as I get them. You can reach me on email: kaluka@techarena.co.ke
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