Barclays Africa and Techstars have named the ten fintech startups which will participate in a 13-week acceleration programme.
All of the finalists in the programme are focused on creating fintech solutions for Africa including digital trading platforms, simplifying investments and much more.
“Each of the ten successful companies represented something unique that we believe has the potential to become a significant and relevant player on a global scale,” says managing director of Techstars, Yossi Hasson.
“Access to Barclays Africa’s base is a significant opportunity for these fintech companies to greatly accelerate their growth through partnership or distribution deals with Barclays and access to their senior executives as mentors, providing key expertise to the startups that ordinarily would be almost impossible to get access to,” Hasson added.
During the accelerator programme – which is to be held at the Barclays Africa Rise innovation hub in Cape Town – these ten startups will have direct access to top mentors, investors and venture capitalists in Africa.
The ten startups participating in the programme and what they do follow on below.
Designs artificial intelligence solutions for the banking industry, helping banks better engage and support their customers at scale; significantly reducing the costs of servicing and acquiring customers through the use of chatbots.
FOMO Travel (SA)
Provides a gamification model for travel, which gives the user the opportunity to reduce their financial obligation through crowdfunding, rewards and incentives.
Designed a digital trading platform based on blockchain technology, modernising agricultural trade by connecting food wholesalers to food producers directly, reducing distribution costs, creating financial security, and providing chain transparency.
Byte Money (SA)
Provides solutions that help avoid mismanagement of payments in the ‘informal finance sector’. Byte Money taps into and revolutionises existing third-world payment channels and integrates them with first-world technologies.
Provides an automated and secured layaway system that manages the purchase of goods. Customers can choose to pay for goods over varying periods of time.
Provides an event commerce platform. Howler is the consolidation of three powerful events and entertainment platforms, designed at the highest benchmark of service and technology, helping consumers and event organisers to make moments that matter.
Focused on consumer analytics and targeting. Using a proprietary consumer database, Spatialedge enriches and verifies clients’ customers by spatially locating them, mapping them, and use advanced analytics to help clients locate and target new customers.
Simplifies the investment process for millennials by automating their investment decisions using machine learning and predictive analytics.
eCOIDA is an online insurance technology platform; a central database that connects all role players in real-time, creating an accurate workflow, fraud-free, paperless claims-processing platform.
The Sun Exchange (SA)
The Sun Exchange enables anyone anywhere to own and earn from solar panels powering Africa, India and other developing economies. The exchange allows for collaborative solar finance using blockchain.
We wish all the startups participating the best of luck as they develop and accelerate their businesses.