Barclays Africa and Techstars Announce 10 Finalists In Fintech Accelerator Program In Cape Town
10 startups will converge on Cape Town South Africa for Barclay’s Africa Group’s FinTech accelerator powered by Techstars. This is one of many programs that Techstars has partnered with big corporations to help support startup growth. The thirteen week program will be held at Barclay’s Africa Rise Fintech Innovation Hub.
The 10 startup program participants are: Flexpay (Kenya), Howler (South Africa), Spatialedge (South Africa), Abe.ai (USA), The Sun Exchange (South Africa), Byte Money (South Africa), Avenews-GT (Israel), FOMO Travel (South Africa), Kapitalwise (USA) and eCOIDA (South Africa).
“Our diverse, ambitious, and growth-hungry African continent with its young population is finding a growing self-actualization momentum now more than ever, with the largest segment being the millennials. Through our deep and lean collaborations with fintechs, and in fact all kinds of startups, we aim to further drive this momentum that can result in the creation and accelerated distribution of new products, experiences, and services that will make a difference for our African communities,” Yasaman Hadjibashi, Barclays Africa Group Chief Creation Officer, said in a statement.
“Each of the ten successful companies represented something unique that we believe has the potential to become a significant and relevant player on a global scale,” says Yossi Hasson, MD of Techstars.
Here are descriptions of the 10 participants:
Abe.ai (USA): Designs artificial intelligence solutions for the banking industry, helping banks better engage and support their customers at scale; significantly reducing the costs of servicing and acquiring customers through the use of chatbots.
FOMO Travel (SA): Provides a gamification model for travel, which gives the user the opportunity to reduce their financial obligation through crowdfunding, rewards and incentives.
Avenews-GT (ISRAEL): Designed a digital trading platform based on blockchain technology, modernising agricultural trade by connecting food wholesalers to food producers directly, reducing distribution costs, creating financial security, and providing chain transparency.
Byte Money (SA): Provides solutions that help avoid mismanagement of payments in the ‘informal finance sector’. Byte Money taps into and revolutionises existing third-world payment channels and integrates them with first-world technologies.
Flexpay (Kenya): Provides an automated and secured layaway system that manages the purchase of goods. Customers can choose to pay for goods over varying periods of time.
Howler (SA): Provides an event commerce platform. Howler is the consolidation of three powerful events and entertainment platforms, designed at the highest benchmark of service and technology, helping consumers and event organisers to make moments that matter.
Spatialedge (SA): Focused on consumer analytics and targeting. Using a proprietary consumer database, Spatialedge enriches and verifies clients’ customers by spatially locating them, mapping them, and use advanced analytics to help clients locate and target new customers.
Kapitalwise (US): Simplifies the investment process for millennials by automating their investment decisions using machine learning and predictive analytics.
eCOIDA (SA): eCOIDA is an online insurance technology platform; a central database that connects all role players in real-time, creating an accurate workflow, fraud-free, paperless claims-processing platform.
The Sun Exchange (SA):. The Sun Exchange enables anyone anywhere to own and earn from solar panels powering Africa, India and other developing economies. The exchange allows for collaborative solar finance using blockchain.