BY TOM JACKSON
Eight African fintech startups have been selected to participate in the latest edition of the GreenHouse Lab accelerator, securing access to funding and mentorship.
GreenHouse Lab is the flagship accelerator programme run by GreenHouse Capital, a Lagos-based fintech investment fund and platform focused on supporting early-stage companies and world-class emerging market entrepreneurs building the next wave of innovative technology companies.
Participants receive a US$10,000 direct investment from GreenHouse Capital and will be eligible for an additional US$50,000 from the GreenHouse Capital Founders Fund if they go on to be accepted into a top global accelerator. The Founders Fund represents the core of GreenHouse Capital’s vision of “founders backing founders”, as it is seeded by several of Africa’s top tech founders.
Eight innovative African startups have been accepted into the 2021 Fintech Accelerator, with GreenHouse Capital saying these companies represent the cutting edge of Africa’s fintech sector and are led by young tech entrepreneurs solving critical market challenges in areas like fintech infrastructure, personal wealth management, cross-border remittances, and diaspora services.
Six of the selected startups are from Nigeria, namely real estate investments platform MyInvest, payment collection platform Collect Africa, payments API Payhive, P2P crypto exchange ScaleX, customer data aggregator Dojah, and startup-focused equity crowdfunding platform GetEquity.
The other two startups selected to take part both hail from Kenya, in the form of mobile money-based investments platform Chumz and savings service Route.
“We are excited to be welcoming these fantastic startups into the GreenHouse Capital community. We are always looking to support companies that are a step ahead in their thinking of how to solve everyday challenges that Africans face. Our direct investment into each startup shows our confidence in their potential, and we are also proud to have created a vehicle specifically for African founders to invest alongside us as well,” said Bunmi Akinyemiju, founding partner of GreenHouse Capital.
The six-week accelerator program is now underway and startups have already participated in several exclusive sessions with accomplished tech founders, global investors, and world-class corporate partners including Amazon Web Services and Google for Startups.