BY TOM JACKSON
Kenyan digital addressing startup OkHi and Nigerian multi-merchant rewards platform ThankUCash have been accepted into the Hong Kong-based Betatron accelerator, securing access to mentorship and funding.
Founded in 2016, Betatron is an investment firm that runs an annual four-month accelerator programme to help companies expand their operations into Asia and secure funding.
The programme provides up to US$500,000 funding for each selected startup, as well as mentorship and guidance to ensure a seamless expansion process.
Having received 2,500 applications for its latest cohort, Betatron has selected nine startups to take part, including two from Africa. They are Kenya’s OkHi, which provides a digital addressing network that turns a user’s mobile phone into their physical address, and Nigeria’s ThankUCash, which has launched a rewards and loyalty platform that helps customers access deals and businesses better understand consumer spending patterns.
The investment in OkHi forms part of the US$1.78 million funding round the startup announced last week.
“We are proud of our journey so far and acceptance into the Betatron Cohort 6 Accelerator Programme further shows that we are on the right path as a company. Our mission of helping businesses prosper by connecting them with customers is clearly a shared one regardless of geography and this has reflected in the traction we have receiving from investors and partners who are eager to be a part of our story and this continues to fuel our commitment to our goals,” said Simeon Ononobi, chief executive officer (CEO) of ThankUCash.
The other seven startups in the programme hail from France, India, the Philippines, Poland, and the United Arab Emirates (UAE).