Meet The Three Fintech Start-ups That Secured Non-Equity Investment
Catalyst Fund, recently selected three African Fintech start-ups, for its 2019 cohort program.
As an accelerator program, with the backup of JP Morgan Chase and the Bill & Melinda Gates Foundation, Catalyst Fund will give provide an additional $50,000, to $60,000, in the non-equity venture.
The additional fund, is aimed at supporting the selected Fintech start-ups, to develop their business model, generate revenue, connect them to venture capitalists and Catalyst Fund’s league of investors.
Below are the three African Fintech start-ups that got selected;
Co-Founded by Ham Serunjogi from Ghana and Majid Moujalled from Uganda, Chipper Cash has its offices in Ghana and Kenya, but based in San Francisco.
It offers a, no-fee, person-to-person, (P2P), payment, through a cross-border mobile money system.
Since it began its operation in 2018, the Fintech outlet has processed, over 200,000 transactions, for more than 7,000 users of its platform.
According to its website, Chipper cash is the largest mobile cross-border money transfer platform in Africa.
Salutat is Co-Founded by Mike Driver and Sam Upra, who holds the position of the CEO and CTO, respectively.
The Singapore-based Fintech start-up, offers a solution that is custom-built, to fit the needs of its users. Helping them to centralise, manage and analyse the communication, between staff and users, across any channel.
Built for emerging market lenders, Salutat helps banks and Main financial institutions, (MFIs), to make communications easier and seamless.
The platform was built on cutting-edge technology, which includes neuroscience, machine learning and integration.
Salutat delivers value, to its financial institution partners, their staff and customers.
The Kenyan-based start-up, leverages mobile financial services, in the provision of hospital cash, back to its users. These users must have sought medical treatment at an accredited hospital.
Co-Founded by Peter Gross and Ted Pantone, the start-up is set to offer a package that would help organisations/users to minimise sick days, maximise productivity, minimize costs and retain the best employees.