Rinchi
TechInAfrica – The Catalyst Fund has selected three Africa-focused fintech startups for its 2019 startup cohort. The startups are Chipper Cash, Salutat and Turaco. They will be joined by a Brazil-based fintech startup, Diin.
The Catalyst Fund is an accelerator program backed by JP Morgan Chase and the Bill & Melinda Gates Foundation. The fund’s program will give new additions of $50,000 to $60,000 in non-equity venture building support an a six-month of technical assistance.
The funds and assistance aimed at helping these fintech startups to catalyze their business models, generate revenues, as well as connect them to global venture capitalists (VCs). Additionally, it also helps them to gain exposure to the Catalyst Fund’s Circle of Investors.
The winners of this year’s cohort will also have the opportunity to attend the big SOCAP 2019 tech conference in San Francisco, California, the USA in which the Catalyst organizes workshops and meetings with its Circle of Investors.
Catalyst Fund was founded in 2016. Its missions include supporting fintech startups with solutions for low-income individuals in emerging markets. To date, the organization has accelerated 20 ventures in three continents including Africa, Asia, and Latin America. Its latest report said that the fund has raised $25.7 million in follow-on capital.
Source: techawk.com.ng
