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Apply Now: $130,000 FinTech Innovation Startup Funding from VISA

By Wayan Vota on March 15, 2021

visa startup fintech funding

Innovation in digital financial services is allowing Africans to move up the “financial services value chain.” From mobile money payments, customers in sub-Saharan Africa are gaining access to mobile banking and other services as they open saving accounts, take out loans, purchase insurance, and invest in Government securities or in stock markets with a few touches of their mobile phone. They can even “borrow” electricity and pay later instead of sitting in the dark.

New innovations in fintech are proceeding rapidly. New technologies are being developed and implemented on the continent, and they have the potential to yield significant benefits for Africa. Recognizing this, foreign investors have stepped up their backing for African fintech firms, while those firms develop solutions adapted to the region, for example, to cater for the relatively lower internet speed in some areas. The falling price of smartphones will also help the region reap the rewards of internet-based solutions.

$130,000 FinTech Innovation Startup Funding

Visa Everywhere Initiative is an open innovation program that helps startups demonstrate ground-breaking solutions. Over the past five years, more than 7,000 startups have participated, and they’ve collectively raised more than $2.5 billion in funding.

Sign Up Now for More Startup Funding

This year’s global startup competition will feature one winner per region and global finals. Startups with great products already in market and gaining traction should participate to gain scale with a trusted brand like Visa. Applicants should be companies from Central Europe, Middle East and Africa with innovative payment and commerce solutions to consumers and businesses, including:

  • Blockchain and cryptocurrency
  • Alternative lending
  • Personal financial management
  • Money transfer and remittance
  • Digital banking (aka neobanks)
  • Digital wallets, P2P, and transfers

At the conclusion of the CEMEA Regional Finals, the Finalist will be awarded $15,000 USD. This region has one of its five spots reserved for an Ethiopian startup. It will be awarded an additional $15,000 USD. Finally, $100,000 in monetary prizes will be awarded during the global finals event.

Apply Now! Deadline is April 9, 2021

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Written by
Wayan Vota co-founded ICTworks and is the digital lead on the Deloitte for Development team. 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 Deloitte, any of its entities, or any ICTWorks sponsor.
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3 Comments to “Apply Now: $130,000 FinTech Innovation Startup Funding from VISA”

  1. We are developing a cold chain warehousing facility for fresh produce growers, also we are establishing air and sea cargo logistics for farmers to the final market destinations to Europe and the middle East.
    We are also going to establish a a mobile and web platform that will interact with farmers from their farm and track how their farm produces moves from the farm to the final end user and finally receive payments.
    We are a start up company and would want to have an equity partner to help us jump start the project which is based in western Kenya.

    We hope that we do qualify for project funding from this platform.

    Thanks and Kind Regards
    Daniel Padwa
    Project Founders

  2. Patrick says:

    I am into agriculture. I want to apply

  3. We are into agriculture, where we offer Cold Chain Warehousing, marketing and sea and air logistic.
    We intent to create employment for the youth and women through virtual mobile technology. How are we going to achieve this? By having agents through our Franchisees, this would mean that we will need to have to partner with mobile vendors to provide us with the best mobile technology to offer to our outlet agents.
    We need funding to support this project noble idea, the funding shall be used in buying mobile technology, setting up servers and developing a web based platform which interacts with our mobile app.
    The funding we shall also use for training the agents and web development.

    We hope that we do qualify for funding.

    Thanks and Kind Regards

    Daniel Padwa
    CEO