Carbon, a Nigerian-based fintech, has launched a $100,000 fund to support tech startup in Africa. The company plans to invest $10,000 in startups for a 5% equity. The initiative, known as the Carbon Disrupt Fund, is expected to spark collaboration and drive growth within the continent.
In addition to the fund, Carbon is also availing its API to fintech startups. It will provide its growing customer base, payment platform, office space, as well as innovation to these startups.
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Asides this, the fund will enable these early-stage startups to access the market faster.
Early-stage startups will be able to market their products to Carbon’s customer base and vice versa.
This opportunity is open to startups in Uganda, Kenya, Nigeria, Ghana, Côte d’Ivoire, and Egypt. The applying startups must have a functional product, be in the post-revenue stage, and be willing to expand across Africa. Startups in the insurance, health, and education sectors are also eligible to apply for the Disrupt Fund.
Another new funding opportunity for early-stage startups in the African tech ecosystem is – Iyinoluwa Aboyeji’s Future Africa Fund $50,000 annual investment for 20 startups.