Riby Finance, 11 Other African Startups to Participate in the Village Capital, PayPal Fintech Accelerator

Riby Finance, 11 Other African Startups to Participate in the Village Capital, PayPal Fintech Accelerator

Nigerian Fintech Startup, Riby Finance has been named among the 12 African startups to take part in the Village Capital and PayPal Fintech accelerator for Sub-Saharan Africa. The programme offers three months training to the participating startups and will enable an access to US$50,000 investment to the best two participating startups.

According to Disrupt Africa, applications for the programme were opened in November 2017 to Fintech startups that have developed an innovative technology or business model that has improved financial health for consumers or businesses, from Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania, and Uganda.

After that, a cohort of 12 Fintech startups were chosen from 165 applicants.

Other representatives from Nigeria include CredPal, an innovative solution that seeks to combat the ever complex loan approval process; Social Lender, a lending solution based on social reputation on mobile, online and social media platforms; and Youverify, a background screening, address and identity verification platform.

Similarly, four Fintech startups from Kenya will be participating in the programme. These include Annona, a tech platform for small-scale producers; FPESA, a foreign exchange service; Bima, an insurance solution for GrassRoots dwellers; and Tulaa, an agriculture marketplace.

Likewise, four Fintech startups were picked from Uganda for the programme. These include Ensibuuko, a cloud-based software platform for microfinance institution; Mazima Retirement Plan, an informal sector savings platform; Numida, a SME digital solutions startup; and Patasente, an order financing solution.

In line with the expansion of their investment-readiness programme for financial health entrepreneurs to several new regions, Village Capital and PayPal has announced that they will be hosting four incubator programmes around the world over the next two years: in the US, Latin America, India and Sub-Saharan Africa. At least, 40 emerging Fintech entrepreneurs will be supported through these programmes.

Congratulations to them!


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