Visa shortlists 22 African startups to participate its 2nd Africa Fintech Accelerator program
Updated 5/30/2024 11:07:00 AM
Arab Finance: Visa has shortlisted 22 startups from across Africa to take part in the second cohort of its Africa Fintech Accelerator program, according to an emailed press release.
Egyptian startups Sahl, Synapse Analytics, Valify, and Paymint were among the shortlisted African startups.
The biannual program offers 12 weeks of 1:1 mentorship and personalized training and provides exclusive opportunities to access funding, development, and resources to seed to series A startups with.
Cohort 2 startups operate across 28 African countries, marking a 55% increase from Cohort 1 where the representatives operated across 18 countries.
The selected startups offer a range of solutions, such as neo-banking, merchant payments, credit scoring, risk and identity management, embedded finance, social commerce, escrow services, and more.
They target addressing the challenges and opportunities in the fintech landscape of Africa, such as financial inclusion, access to credit, cross-border payments, and digital transformation.
Launched in June 2023, the Visa Fintech Accelerator program boasts ongoing efforts to advance the digital economy in Africa, including a pledge to invest $1 billion in the continent by 2027 to help revolutionize the payments ecosystem.
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