Following its launch in April 2021, ARM Labs Techstars Lagos Accelerator has admitted 12 African startups for the pioneer batch of the three-month program centered on early-stage fintech and proptech startups based mostly in Africa.
The inaugural cohort is made up of 10 Nigerian and two Kenyan startups, with 50% feminine CEOs. “This is a call of our perception within the groups; their product, market and traction,” Oyin Solebo, MD at ARM Labs Lagos Techstars, advised Benjamindada.com over a name.
According to her, Nigeria is arguably essentially the most energetic and largest ecosystem so it’s regular that extra startups got here from the West African nation. “From the purposes we acquired, these 12 have been the very best. However, the subsequent cohorts will likely be extra various. My imaginative and prescient is for Techstars to be in a number of cities throughout Africa,” she added.
“Lagos has constructed a profitable startup ecosystem that deserves extra international publicity, investments and assets, and we see extraordinary potential out there.”— Nancy Wolff, General Manager, Techstars.
Each of the selected startups will obtain as much as $120,000, in addition to curated startup programming and entry to Techstars’ huge community of seven,000+ mentors, 20,000+ traders, alumni, and company companions.
The pioneer batch which commenced in December 2022 has had engagements with over 100 mentors and audio system together with Tunde Kehinde; co-founder & CEO, Lidya, Bode Abifarin; COO, Flutterwave, Fara Ashiru Jituboh; Founder & CEO, Okra and Amandine Lobelle; COO, Paystack. The demo day will likely be in Lagos on March 16, 2023.
Meet the inaugural batch of ARM Labs Lagos Techstars Accelerator
Speaking on the selection of sectors, particularly fintech and proptech startups, Ms Solebo mentioned “it’s an analysis of the place there’s market potential. Also, since it is a accomplice programme with ARM Labs, property and monetary companies is the place a number of their experience and community is.”
However, she famous that the Lagos-based accelerator would possibly diversify its investments into different sectors within the coming years. The Lagos-based Techstars Accelerator is designed to run for three years, investing in 36 startups throughout three batches.
Below is the inaugural cohort of the ARM Labs Lagos Techstars Accelerator Program:
(*12*) is an actual property funding platform based by Trevor Kimani and John Mbui. The startup’s mission is simple- to scale back the entry barrier for actual property traders by enabling traders to buy a fraction of income-generating properties.
peppa.io, based by Banky Alao, Bridget Yadua-Soremekun and Emmanuel Obute, is making it safer to purchase on social platforms for Africans by way of the usage of cost safety.
“Being accepted into the Techstars accelerator was an unmistakable validation of peppa.io,” mentioned Banky Alao, CEO of peppa.io, a fintech companies firm devoted to cost safety. “The program has set us on a positive path to exponential development and impression. Absolutely the very best factor to occur to us.”
CDcare is making it straightforward for Africans to personal devices, home equipment, automobiles and extra at zero curiosity, by way of good instalment plans. The firm was based by Tobi Odukoya and Deji Farohun.
Founded by Ebby Gatamu and Kibe John, Cladfy supplies microfinance lenders with credit score profiling, digitised mortgage administration, and entry to reasonably priced, dependable financing.
“I’m delighted about our choice into the Techstars household as a result of historically, as an African, feminine, fintech founder, the chances are sometimes stacked towards you,” mentioned Ebby Gatamu, Co-founder Cladfy. “This program has not solely taught us to deal with the issue and our clients, but in addition led us to satisfy and work together with phenomenal individuals we might in any other case presumably by no means have met.”
Flick is constructing PayPal for Africa; enabling customers to attach a number of financial institution accounts and pay instantly from one supply, making funds 7x sooner. Ruth Olojede and Dipo Gbadebo are the founders of the corporate.
Keble, based by Emmanuel Oballa, Agulanna Josemaria, Adebisi Borokinni and Valentine Offiah, permits Africans at house and overseas to buy fractional shares of world actual property for as little as $10.
Keza is powering smartphone financing by enabling individuals to purchase brand-new and authorized pre-owned smartphones on a versatile cost plan. Keza Africa was based by Aisha Hussaini.
Salad was based by Chikodi Ukaiwe and Seunfunmi Omotunde and is offering staff with entry to monetary companies and advantages past their month-to-month paycheck.
Sidebrief simplifies the method of beginning and scaling a enterprise throughout borders, with its one-stop answer for registration, banking and regulatory compliance. The firm was based by Eunice Olopade, Abdulwaheed Yusuf and Usman Sotunde.
Towntalk, based by Folake Edun, Disun Vera-Cruz and Tomiwa Erinosho, is constructing Area!–a safety platform giving firms peace of thoughts when shifting items and folks from level A to B, by offering real-time location and behavioural analytics, car monitoring and entry to insurance coverage suppliers.
Vittas is a digital lender for healthcare suppliers, utilizing machine studying, partnerships and embedded third social gathering SaaS options to supply loans for the acquisition of medicines and medical gear. Vittas was based by Sulav Singh, Collins Uche and Eric Okemmadu.
Founded by Ifedolapo Lawal, Olusola Onajobi and Omotayo Iginla, Oystr is democratizing credit score in Africa. The firm supplies lenders with an infrastructure to assist them launch low-risk micro-loan merchandise, develop their portfolios and increase into new markets in lower than half-hour.
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“The pleasure of supporting an accelerator program lies within the potential to ignite the spark of innovation and watch because it transforms right into a blazing hearth of impression and alter. As ARM companions with Techstars to launch an accelerator program that gives funding, mentorship, and entry to networks and assets, our objective is to unearth the subsequent set of Unicorns out of Africa,” Ina Alogwu, Group Director, Digital Transformation, ARMHoldCo, mentioned in an announcement shared with Benjamindada.com.