GIGX Technologies. an African financial asset platform focused on simplifying the processes of savings, investing and spending value globally, has been admitted into the Techstars Toronto Accelerator 2022 Cohort.
The announcement was made on the startups’ accelerator LinkedIn platform. According to the statement, Techstars Toronto expressed their satisfaction and inclination towards the value proposition of GIGX Technologies.
“At Techstars, we love the way GIGX Technologies is democratizing wealth-building for Africans while helping individuals mitigate fiat inflation risks.”Techstars Toronto
In confirmation of the announcement, GIGX expressed their excitement in being accepted into the Winter Cohort, maintaining that the new feat goes to validate their mission to make finance available for Africans.
“Our acceptance into one of the largest tech accelerator programs in the world validates our mission to unlock financial autonomy for Africans by creating a single solution that provides global access to send, receive, spend and save money.”GIGX Technologies
“We see unlimited possibilities and look forward to bridging the gaps associated with global payments for African immigrant families and businesses while providing channels to grow and preserve wealth”, it adds.
Born out of wanting to offer GIG Logistics‘ over 500k customers a tool to send, receive, and exchange currency, GIGX Technologies has pioneered partnerships with the likes of Ernst & Young, Fireblocks, and even Techstars Toronto Accelerator portfolio company, Quidax.
More about GIGX
GIGXPAD or GIGX Technologies is an African financial asset platform that focuses on simplifying the processes of saving, investing, and spending value globally, while preserving the value of an individual’s wealth in the midst of inflation crippling most African economies.
Essentially, GIGX is the financial service subsidiary of GIG Group, one of Africa’s leading Logistics companies powered by tech.
Founded in 2012, GIGL has expanded across the shores of Africa solving logistics problems across a defined marketplace in Africa. The company has also expanded beyond Africa, it currently has branches in the United Kingdom (UK) and the United States of America (USA).
Just recently, the tech-driven delivery company, also expanded its services to China bringing the total number of countries it presently operates to four.
Before its launch in 2021, we reported an insider story that suggests that a major African brand operating within the mobility and logistics sector, was in the advanced stages of a collaboration with a set of international partners to develop and launch what may be the first Africa-wide decentralised blockchain-enabled project financing platform.
Later, the company confirmed in a statement that it was launching a platform which would be Africa’s first decentralised marketplace.
The statement reads:
“GIGX is Africa’s first decentralized marketplace, bringing real-world business opportunities to a blockchain-based environment.” It adds that the project seeks “…to unlock economic opportunities for all by enabling peer-to-peer services, effectively cutting out the middlemen – reducing associated costs in the process.”
Since then, the company has developed an all-in-one app that allows users to store, earn, invest and spend their crypto-assets. The app is bringing solutions that would help make finance accessible for all Africans and beyond Africa, just like its parent company.
African startups in Techstars Toronto
Lately, there has been an increased number of African startups participating in the Techstars Toronto Accelerator program.
Techstars is set to multiply its investments in African startups per year to 24. So far, it has invested in 10 this year and a total of 13 every year since 2018. The program lasts for 3 months and is held in batches.
The 2021 batch has 8 African startups. They include OurPass, a Nigerian startup that provides payments and checkout services; Rent Small Small, a Nigerian pay-as-you-stay property rental platform; Payday, a platform created to provide fast payments for Africans; Healthtracka, a Nigerian health-tech startup; Lenco, a fintech platform that provides banking services for businesses in Africa; Duhqa, a Kenyan logistics platform; Kyshi, a platform that facilitates cross-border transfers from Europe to Africa and Fleri, a direct-remittance platform.
Sunil Sharma, Managing Director of Techstars Toronto believes Africa is the future and so they want to play a part in it.
“We are seeing the valuations explode and the trend towards more and more unicorn companies, so of course we want to play a part in that and we know we can help these entrepreneurs succeed.”Sunil Sharma, MD Techstars Toronto
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