The ARM Labs Lagos Techstars has selected 12 African tech startups for its inaugural accelerator programme with a $120,000 prize money in equity funding and other forms of support.
The accelerator programme which was launched by Techstars, a global investment business that provides access to capital as well as one-on-one mentorship, and customised programming for early-stage entrepreneurs, is in partnership with ARM Labs, a Lagos-based innovation programme focused on helping fintech startups.
The accelerator programme, according to Techstars Managing Director, Oyin Solebo, in a statement on Tuesday, will run for three months and is aimed at early-stage African fintech and prop-tech startups, with the first cohort made up of 10 Nigerian and two Kenyan ventures, half of which have female CEOs.
“Each selected startup banks up to $120,000 in equity funding, as well as access to training and a vast investor network. The programme concludes with a demo day on March 16,” the MD said.
“The selected Nigerian startups include peppa.io, a platform that makes customers buy items on social platforms through the use of payment protection.”
“Others are CDcare, which is making it easy for Africans to own gadgets, appliances, cars and more at zero interest, through smart installment plans;”
“Flick, which enables users to connect multiple bank accounts and pay directly from one source;”
“Keble, which enables Africans at home and abroad to purchase fractional shares of global real estate; and Keza, which enables people to buy new and pre-owned smartphones on a flexible payment plan.
“Also selected from Nigeria are Salad, which provides employees with access to financial services and benefits beyond their monthly paycheck;”
“Sidebrief, which simplifies the process of starting and scaling a business across borders and Towntalk, which provides shippers with real-time location and behavioural analytics, vehicle tracking, and access to insurance providers.”
“Also selected are Vittas, a digital lender for healthcare providers and Oystr Finance, which provides lenders with an infrastructure to help them launch low-risk micro-loan products.”
“The two Kenyan startups taking part in the programme are alphabloQ, a real estate investment platform, and Cladfy, which provides microfinance lenders with credit profiling, digitised loan management, and access to affordable, reliable financing,” Solebo said.