Visa, one of the world’s leading card payment processors, has made significant investments in four African startups as part of its $1 billion commitment to advancing financial inclusion on the continent. This move is in line with Visa’s goal of promoting innovation within Africa’s fintech ecosystem.
These startups were selected from Visa’s Africa Fintech Accelerator program, which was launched in June 2023. The program provided mentorship, technology credits, and opportunities for startups to pitch their ideas to potential investors during Demo Day. Out of the 23 startups in the program, only four were chosen for strategic investment by Visa.
The selected companies include Oze, a Ghanaian business banking platform; Orda, a Nigerian startup specializing in restaurant technology solutions; WorkPay, a Kenyan HR and payroll management firm; and OkHi, a startup using AI for address verification services.
Visa’s commitment to supporting innovative solutions that drive money movement, empower merchants and small businesses, and promote financial inclusion was highlighted in a recent LinkedIn post announcing the program.
The second cohort of startups, including Raenest, Beem, and E-Doc, will have the opportunity to pitch their ideas to Visa and other investors during a Demo Day scheduled for December 2024. In addition, Visa has launched the third cohort of its accelerator program, featuring startups such as Bumpa, Kredete, WeWire, and Umba, among others.
This strategic investment by Visa underscores the company’s dedication to fostering innovation and driving financial inclusion in Africa’s rapidly evolving fintech landscape. With the support of Visa’s resources and expertise, these startups have the opportunity to make a significant impact on the region’s financial services industry.
For more information, you can visit the source article here.
