Key highlights
- Two Nigerian fintech startups have been selected to join a global accelerator program.
- They are among the 32 startups selected from Africa, Asia, and the Middle East.
- The program will provide the 32 startups with a combination of intensive in-person and virtual investment readiness training.
Two Nigerian startups, Hervest and Regxta have been selected to join the Financial Solutions for Migrants program, an accelerator for impact-driven startups developing digital financial inclusion solutions for migrants. The Nigerian startups are part of 32 startups operating in Africa, Asia, and the Middle East announced by Village Capital.
The 32 startups comprise 10 from Africa, 11 from Asia, and 11 from the Middle East.
The program which is funded by the Impact-Linked Fund for Gender Inclusive Fintech (ILF for GIF), managed by the Impact-Linked Finance Fund and supported by the Swiss Agency for Development and Cooperation, and the Austrian Development Agency, the operational unit of the Austrian Development Cooperation, will work with the startups to further develop and refine their products and solutions to fit the needs of different migrant communities including migrant women and refugees.
The program will provide a combination of intensive in-person and virtual investment readiness training, and connect the 32 startups to Village Capital’s wider investor and mentor community.
Meet the two Nigerian startups
- HerVest is an inclusive fintech company that provides financial growth services from target savings, impact investing, and credit-specifically for smallholder women farmers and women-owned/led businesses in Nigeria.
- Regxta (Nigeria) is an inclusive digital platform that provides quick, easy, and simple access to financial services for the unbanked people in rural and peri-urban communities in Africa, including internally displaced people and refugees.
Other startups selected from Africa include Africa Exuus from Rwanda; Fleri from Ghana; Kotani Pay Kenya and Uganda’s Payclide and Patapia. Others are PayingTone also from Rwanda; Susu from Senegal; and Tumia from Kenya.
The Financial Solutions Accelerator Program is designed to help startups identify early milestones, prepare for their next round of capital (if relevant), and meet potential investors. It will also help participating fintech to improve products and services fit with women migrants’ needs and mature their impact management systems and practices. In short, through virtual and in-person workshops, they deliver a targeted, award-winning curriculum and provide countless connections to prepare startups for growth.
