DLM Capital Group has launched the inaugural Fintech Pitch Challenge
that will accelerate seeding funding and investments in the Nigerian fintech ecosystem.
According to the Nigerian Start-Up Funding Report by TechPoint, Nigerian technology companies attracted investments of over $377 million in 2019 and a huge percentage of this sum was invested in FinTech Companies. The same report was citied that in Q1 2020, Nigerian startups raised $55.37, higher than they did in Q1 2018 and Q1 2019 combined.
Reassuringly, Nigerian companies are proving a draw for investors, and particularly for venture capital (VC) firms. While the Nigerian fintech ecosystem is not short of deals and VC interest, much of the funding capital comes from outside the shores of Nigeria.
To support these fintech startups, DLM Capital Group through its digital banking subsidiary, Sofri and in partnership with Africa Fintech Foundry (AFF) is calling for submissions into its first fintech pitch contest. The competition, called the Pegasus Fintech Challenge is one of the initiatives by the investment institution to further solidify Nigerian fintechs on the global map.
Interested applicants should send their products and Demo here before 18th June 2021. The nominated finalists will participate in a pitch event after which the 3 top finalists will be selected and the first and second runner up to be presented with cash prizes. The winner on the other hand will be awarded a seed capital. Finalists stand a chance to be inducted into the acceleration program of the Africa Fintech Foundry (AFF), which affords them the opportunity to be immersed in AFF’s open innovation strategy.
Opportunities – What are the benefits of the DLM Capital Pegasus Fintech Challenge 2021?
Emerge as the winner from the DLM Capital Pegasus Fintech Challenge and stand a chance to explore the following opportunities.
• Seed funding sourcing assistance
• Integration with existing DLM Capital offerings
• A chance to have Sofri’s parent company, DLM Capital Group, become a principal investor
• Once in a lifetime opportunity to pursue integration with DLM Capital Group and all its subsidiaries.
Eligibility – Who should be applying for the DLM Capital Pegasus Fintech Challenge 2021
To be eligible to apply for the DLM Capital Pegasus Pitch Challenge, the following must be put into consideration.
• Fintech startup must be based in Nigeria.
• Fintech startup must be at least 1 year in operation.
• Product solutions must focus on financial technology to strengthen financial services in Nigeria.
• Product solutions must focus on speed and convenience.
• Product must demonstrate traction, ideally between Seed and Series A stage