2 May 2017

Innotribe names 10 companies to compete in the Startup Challenge Africa

The successful startups will pitch their products in Abidjan, Ivory Coast, on 17 May 2017 during SWIFT’s African Regional Conference

Brussels, 2 May 2017 – Working in close collaboration with Innotribe, over one hundred judges from across the financial, technology, and investment communities evaluated close to 100 applications received for the third edition of the Startup Challenge in Africa. The applications came from 16 countries, with South Africa, Nigeria and Kenya dominating the list. The judges assessed the companies on their potential to provide an important innovation to the future of the financial industry, and ultimately narrowed the selection process to this year’s 10 participating startups:

Company

One Line Description

Country

FinChatBot

FinChatBot aim to make financial services available to everybody, and even fun!

South Africa

FINT

FINT is a peer-to-peer lending platform that provides easy access to affordable loans

Nigeria

Inclusive

Inclusive is an identity verification API that helps businesses verify African identities via digital channels.

Ghana

IroFit Technologies

IroFit helps small businesses process in-store mobile/ card payments even when there’s no Internet connection.

Nigeria

Mobbisurance

Mobbisurance is a startup company that is focused on offering emerging farmers with affordable crop insurance

South Africa

Ovamba

Ovamba brings financial solutions to the worlds Illiterate population

Cameroon

Releaf

Releaf makes investing in Africa easier for foreign investors, by leveraging Big Data Analytics.

Nigeria

Sokowatch

Sokowatch is a last-mile ordering and distribution network for small African shops.

Kenya

ThisIsMe

ThisIsMe brings trust into transactions through proprietary, true identification technology.

South Africa

Vugapay

Vugapay provides a mobile wallet which can be topped up from Bitcoin, mobile money, debit and credit cards and bank accounts.

Rwanda

Company

One Line Description

Country

FinChatBot

FinChatBot aim to make financial services available to everybody, and even fun!

South Africa

FINT

FINT is a peer-to-peer lending platform that provides easy access to affordable loans

Nigeria

Inclusive

Inclusive is an identity verification API that helps businesses verify African identities via digital channels.

Ghana

IroFit Technologies

IroFit helps small businesses process in-store mobile/ card payments even when there’s no Internet connection.

Nigeria

Mobbisurance

Mobbisurance is a startup company that is focused on offering emerging farmers with affordable crop insurance

South Africa

Ovamba

Ovamba brings financial solutions to the worlds Illiterate population

Cameroon

Releaf

Releaf makes investing in Africa easier for foreign investors, by leveraging Big Data Analytics.

Nigeria

Sokowatch

Sokowatch is a last-mile ordering and distribution network for small African shops.

Kenya

ThisIsMe

ThisIsMe brings trust into transactions through proprietary, true identification technology.

South Africa

Vugapay

Vugapay provides a mobile wallet which can be topped up from Bitcoin, mobile money, debit and credit cards and bank accounts.

Rwanda

These successful companies all focus on providing innovative solutions for the financial industry in Africa. They will pitch their new products in Abidjan on 17 May, during SWIFT’s African Regional Conference (ARC). The event attracts up to 500 high-level delegates from more than 40 countries and is a unique platform for discussion, debate, and high-level networking for the African financial community. It also represents a great opportunity for the local startups to meet face to face with potential investors, partners and customers.

As a part of the programme, each company selected will receive complimentary coaching sessions with seasoned entrepreneurs who will give them sound advice ahead of the formal pitches taking place on 17 May. These sessions will take place in Abidjan, in group and individually for more in-depth feedback.

 “It is a pleasure for us to see the number of African startups applying to our programme growing year after year. Their calibre continues to impress, and there is no doubt they are going to play an important role in shaping the future of finance,” says Fabian Vandenreydt, Global Head of Securities Markets, Innotribe and the SWIFT Institute at SWIFT. “The Startup Challenge is an enriching experience for all participating companies. They benefit from expert mentoring and get that much needed exposure to financial institutions. We look forward to collaborating with another bunch of talented startups, and start this year’s journey in Abidjan!”

It is a pleasure for us to see the number of African startups applying to our programme growing year after year. Their calibre continues to impress, and there is no doubt they are going to play an important role in shaping the future of finance.

Fabian Vandenreydt, Global Head of Securities Markets, Innotribe and the SWIFT Institute at SWIFT

After the pitches, the audience will vote for the three best startups who will be invited to Sibos, SWIFT’s annual global financial services conference, taking place from 16-19 October in Toronto. The three finalists will have the opportunity to share the stage with FinTech experts, providing great insights on innovation happening in Africa to the financial industry at large. They will also receive a 10,000 USD cash prize each.

For more information about Innotribe and the Startup Challenge, please visit: www.innotribe.com.

 

 

 

 

About Innotribe
Launched in 2009, SWIFT Innotribe is about innovation and connecting people, networks and ideas. We bring together global innovators and investors, strategists, and influential decision-makers from leading financial institutions across the globe, providing them early insights into innovations that could disrupt current business models and create opportunities for new ones. Through the Startup Challenge competition, we bridge the gap between the startup ecosystem and the financial service community.

For more information, please visit www.innotribe.com  or follow us on Twitter: @innotribe and Linkedin: Innotribe.

About SWIFT
SWIFT is a global member-owned cooperative and the world’s leading provider of secure financial messaging services. We provide our community with a platform for messaging, standards for communicating and we offer products and services to facilitate access and integration; identification, analysis and financial crime compliance. Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages in a reliable way. As their trusted provider, we facilitate global and local financial flows, support trade and commerce all around the world; we relentlessly pursue operational excellence and continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies. Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.

For more information, visit www.swift.com  or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT

Contacts:
Cognito
swift@cognitomedia.com  
+44 (0)20 7426 9400

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