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Apply Now: $120,000 for African Financial Technology Startup Companies

By Wayan Vota on August 1, 2022

mobiel money cash payments

Across the African continent, new financial technology (fintech) companies are driving a inclusion revolution. More people in more countries are moving from cash-based unbanked lifestyles to full integration with national banking services via digital financial services. Their innovations cannot happen fast enough. The World Bank estimates that Sub-Saharan Africa has about 350 million unbanked adults – 17% of the global total.

ARM Labs/Techstars Fintech Accelerator

ARM Labs/Techstars FinTech Accelerator seeks applicants for a 3-month intense program supporting entrepreneurs. 12 startups will be selected to receive $120k in funding, curated startup programming, and access to Techstars’ vast network of mentors, investors, and alumni.

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The program’s inaugural class will commence in December 2022 in Lagos state. January will be dedicated to assessing product-market-fit with extensive hands-on training. February will be the execution stage. March will be focused on helping startups refine their financial business models with additional strategies around fundraising. It will conclude with a Demo Day in March 2023 where local investors, community, government and business leaders will experience the transformational power entrepreneurs have on the African fintech community.

The Techstars accelerator has invested in approximately 3000 startups globally to date, with an all-time graduate market cap of $73billion, a $1m average first raise post program, and a total of 19 unicorns produced so far.

Apply Now! Deadline is August 24, 2022

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Written by
Wayan Vota co-founded ICTworks. He also co-founded Technology Salon, MERL Tech, ICTforAg, ICT4Djobs, ICT4Drinks, JadedAid, Kurante, OLPC News and a few other things. Opinions expressed here are his own and do not reflect the position of his employer, any of its entities, or any ICTWorks sponsor.
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2 Comments to “Apply Now: $120,000 for African Financial Technology Startup Companies”

  1. Cavin Mugarura says:

    I feel sorry for African startups that get hoodwinked with such scams, unto $120,000 – can be $1,000 in form of ‘training’ this life no balance


    Konta Vocational Institute for Girls is non profitable organization. This organization support vulnerable women and girls in skills training like Computing, Tailoring and Hairdressing. This organization seriously need support from any international organization. The main aim for this organization is to eradicate poverty and help them to be self dependable and self employ.

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