Tech in Africa
The Catalyst Fund, a global inclusive tech accelerator managed by BFA Global, has announced its ninth cohort of fintech companies that are working towards building solutions designed to improve the resilience of underserved communities and customers. The Catalyst Fund Inclusive Fintech program welcomes PayPal as a new supporter as it further explores the role of digital finance in enabling climate resilience with select companies in the next two cohorts. PayPal now joins JPMorgan Chase & Co and UK Foreign, Commonwealth, and Development Office as the accelerator’s main backers.
Maelis Carraro, MD of the Catalyst Fund is looking to impact “ low-income populations in emerging markets.” Digital finance is a game-changer enabling climate resilience solutions to reach vulnerable populations.
African companies joining the 9th fintech cohort are Crop2Cash from Nigeria offering affordable financing for smallholder farmers while providing digital finance solutions. Kazi in Kenya connects casual and skilled informal workers with on-demand jobs giving access to business and advisory services. HealthDart from South Africa offering access to medication and primary health services.
The three are part of the 5 selected companies adding to the existing portfolio of 45 companies. As per the press release, the Catalyst fund has raised over $247 million in follow-on funding reaching over 6.5 million low-income customers.
💥 Introducing the latest #inclusivefintech companies joining Catalyst Fund 💥
Welcome @kazi_app @ohmmobility1 @ByHealthDart @Crop2Cash @Verqor & #PocketFin to our portfolio.
Learn more in our full release 👇https://t.co/1eRzqErX4L
— Catalyst Fund (@TheCatalystFund) August 2, 2021
