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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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3 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.

  3. I am an Information Technology enthusiast with an educational background in computer science.
    I love technology and love to teach as well as to continuously learn it.
    My love for technology lead me to teaching and setting up a technology firm with a registered company name (muhadafama and sons limited) in Abuja Nigeria.
    Some of the challenges associated with IT set ups are start-up founds and low skilled base professional.
    My intention for this application is to get the start up found and use it to explore opportunities, to improve and expand my young IT company, to provide a medium for professional skilled training for upcoming young IT enthusiast like me and to promote technology ideas and application. This are my intention for this application if granted the start-up founds.
    With regards, thank you sincerely.