The nine startups selected for the first Fintech Incubation Programme have been announced by Co-Creation Hub (CcHub), in conjunction with Google, Rwanda’s Ministry of ICT and Innovation, and Mojaloop Foundation.
The program is in line with Rwanda’s goal of harnessing technology to foster inclusive economic growth.
The Fintech Innovation Project, which includes the Fintech Incubation Program and other development programs, is part of Rwanda’s continuous efforts to establish itself as a fintech powerhouse for Africa, with Mojaloop serving as the country’s payments switch.
CcHub will assist the teams in achieving product stability and scalability, market preparation, and investment over the following three months.
While utilizing Google products and Mojaloop, they will be able to benefit from mentorship from industry and subject experts.
The first cohort of the program will culminate in a demo day in July, during which the startups will pitch to investors via the CcHub syndicate.
The following Rwandan companies are selected:
- KudiBooks, a non-finance, and non-accounting professional’s payment and accounting software;
- Food Bundles, a company that uses digital technology to increase market connections for smallholder farmers and address the growing demand for fresh food;
- Quiqpay, a platform for contactless payments;
- Bafana, a company that assists African artists and creatives in sharing their work and collecting payments;
- Uplus is a digital group finance platform that allows consumers to easily raise funds and save with their friends, family, and coworkers.
- PesaChoice, is a company that provides short-term loans without requiring collateral.
- CentWise, which creates alternative collateral products to provide financial access to micro traders such as street vendors and hawkers;
- PayingTone, a credit-based marketplace for ecologically trackable items and services;
- Exuus is a digital wallet that allows users to keep track of their savings and expenses.
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