Out of the numerous startups from over 45 countries that applied for The Barclays Accelerator in Cape Town, only 10 have been selected to join the programme.
The 10 startups encompass a wide array of verticals with FinTech – including international payments, mobile medical insurance, land title registration via blockchain and financial inclusion.
In no particular order, the 10 startups are described below:
iNuka Pap (Kenya) is a mobile platform that partners with credit co-operatives to allow their members to conveniently deposit, withdraw and access instant micro-loans as well as access other credit services.
Edge Point (Tanzania) is Micro-health insurance that is administered from the mobile handset. From cover registration, options browsing, premium payment (via mobile money), profile management, benefits wallet (ledger) management to claim (hospital) payments.
Beyonic (United States) enables businesses to quickly deploy and manage two-way mobile money payments to eliminate the need to make payments using cash. Through the use of web services and APIs, businesses can access payee and workflow management systems that greatly reduce fraud.
SimbaPay (UK) is used to send money to family and friends bank accounts or mobile wallets in Africa (from abroad) in a convenient and cheap way. Customers can also use their bill settlement technology to pay merchants in Africa (such as universities, utilities). You can also open a bank account back home using the app.
Asoriba (Ghana) simplifies church administration for leaders and improves engagement with members via mobile apps.
Social Lender (Nigeria) is a lending platform, licensed to financial institutions, that determines credit worthiness based on social reputation on social media platforms.
WizzPass (South Africa) is a complete parking solutions app allowing entry and exit to shopping malls, airports, commercial property, office parks, residential property and gated communities via your smartphone.
Tech4Farmers (Uganda) provides farmers with real-time access to market information through an electronic commodity exchange and electronic warehouse receipt system.
Re-Able (Lebanon) provides tools and apps that empower the financial literacy and inclusion of people with special needs.
BenBen (United States) is a solution for governments to convert physical land titles to digital copies on an irrefutable platform secured on the Blockchain. Additionally, they provide citizens with a mobile application, website, USSD platform for them to manage their properties.
The 10 startups will receive mentorship, support and knowledge & experience during the three months accelerator programme, with a demo day taking place in June 2016.
“By combining Barclays’ 300+ years of financial services experience with the mentorship-driven model and entrepreneurial network of Techstars, we offer a game-changing advantage to our startups,” Techstars stated in a blogpost.
The Barclays Accelerator, the first in Africa, is designed to accelerate fintech-focused startups – to help equip African startups with the necessary tools and knowledge needed to scale and shape the financial services sector.
The Accelerator is organized in partnership with Arise, a new physical space and digital platform created by Barclays, and powered by Techstars, a startup accelerator that provides mentorship-driven seed stage investment services.