Six Nigerian Fintech Startups Selected For 2nd Cohort of Visa Fintech Accelerator Program 

The startups selected for the second cohort of the Visa Fintech Accelerator program have been announced. The second cohort demonstrates significant growth, with startups from 28 African countries, up from 18 in the first cohort. 

Additionally, female leadership has risen to 65%, an increase from 43% in the previous group, highlighting Visa’s commitment to diversity and inclusion in the fintech sector.

The selected startups, which span a diverse range of fintech solutions, are set to address various challenges and opportunities within the African financial landscape, such as access to credit, cross-border payments, and more. Notably, Nigeria dominated the list with six selected startups.

Here’s a detailed look at the startups selected;

Nigeria

• Aku: A neo-banking platform providing innovative banking solutions.
• Cleva: Focuses on efficient money movement solutions to enhance financial transactions.
• Curacel: An insurance management startup that leverages technology to streamline claims and reduce fraud.
• E-doc Online: Specializing in open banking, they facilitate secure sharing of financial information.
• Raenest: Enhances money movement capabilities with their financial technology solutions.
• Bridgecard: Provides infrastructure to enable various financial services.

Other startups include;

Kenya

• CheckUps Medical Hub: Specializing in embedded finance within the healthcare sector, they aim to streamline financial transactions for medical services.

Tanzania

• AzamPay: A B2B marketplace facilitating smoother transactions for businesses.
• Beem: Engaged in social commerce, Beem is enhancing how businesses interact with their consumers through social media platforms.

South Africa

• Truzo: Offers escrow services to secure transactions and enhance trust between parties.

Côte d’Ivoire:

• Bizao (Ivory Coast): A merchant payments solution aimed at simplifying the payment processes for businesses.
• Hub2 (Ivory Coast): Focuses on providing essential infrastructure to enable various fintech services.

Other African Countries

• Chapa (Ethiopia): Provides merchant solutions to enhance business transactions.
• Vaultpay (Democratic Republic of Congo): Focuses on merchant payments to aid businesses in financial transactions.
• Iwomi Technologies (Cameroon): Specializes in money movement to facilitate better transaction processes.
• Proboutik (Cameroon): Another merchant payments solution aimed at improving business transactions.

Launched in June 2023, the Visa accelerator program is designed to drive financial innovation across Africa by offering startups personalized mentorship, training, and networking opportunities over a 12-week period. 

This initiative underscores Visa’s dedication to promoting digital transformation and financial inclusion on the continent.