Visa, a top-tier global digital platform is now accepting applications into the 2nd cohort of its Fintech Accelerator Program. The program, which was officially launched on the 23rd of June 2023 was created to provide mentorship, training, and network opportunities for startups in Africa.
According to the leading payment system, applications have been scheduled to be open for a month, January 29, 2024 – February 29, 2024. Being the 2nd of its kind, the success of the initial accelerator program had already set the foundation for It to hold.
A statement from the digital payment company also mentioned that the second cohort of the Visa Africa FinTech Accelerator program is open to startups ranging from seed to Series A, operating within Africa. The program specifically targets ventures involved in areas such as unlocking money movement, embedded finance, empowering merchants and small- to medium-sized businesses (SMBs), payment infrastructure, the future of finance, and sustainable and inclusive finance.
In the inaugural phase of the program, 23 startup founders from over 18 African nations were featured, and 48% of the startups were led by women founders or had women in key leadership roles. The statement also confirmed that these startups are engaged in diverse subsectors, covering areas such as merchant payment solutions, lending infrastructure, Banking-as-a-Service (BaaS), and B2B marketplaces.
This program is in line with Visa’s commitment to invest $1 billion in Africa by 2027. The company announced this dedication in December 2022, with plans to accelerate digital transformation in Africa by scaling operations, implementing new technologies, and strengthening collaboration with partners, according to the statement.
Visa also revealed that they will host the inaugural demo day for the program in Nairobi on February 13th. At this event, startups from the first cohort will present their innovations to influential figures in the ecosystem, funding partners, angel investors, and venture capitalists.
Who can Apply for the 2024 FinTech Accelerator Program in Africa?
Visa is calling on all startups to address any of the following areas:
- Artificial Intelligence (AI) / Generative AI
- Embedded Finance
- Global money movement
- Digital Acceptance for MSMBs
- Loyalty of the future
Also:
- Seed to Series A startup with at least an MVP
- Market Tested Solution that has gained traction
- Current presence in Africa or a proven dedication to expanding operations within the continent.
Benefits:
Benefits of applying for the Fintech Accelerator Program include the following:
- Rich Mentorship
- Knowledge and Expertise
- Training
- Funding
- Partnership opportunities
- Access to Products
How to Apply:
To apply for the Fintech Accelerator Program for Africans, visit the Fintech Accelerator Program website and make sure to read all instructions provided before turning in your application.
