In collaboration with Google, the technology innovation centre, Co-creation Hub (CcHUB), the Ministry of ICT and Innovation Rwanda, and Mojaloop Foundation have announced the nine startups selected for the Fintech Incubation Programme it launched last year.
The Fintech Innovation Project, which consists of the Fintech Incubation Programme and other developmental programmes, is a part of the ongoing efforts to turn Rwanda into the Fintech hub for Africa with Mojaloop as the national payments switch. The programme aligns with Rwanda’s ambition to drive inclusive economic development by leveraging technology.
Here’s a list of the selected startups:
- KudiBooks; is a payment and accounting software for non-finance and non-accounting professionals targeting SMEs across Africa. They help users send and receive payments from their preferred financial institution within Kudibooks.
- Food Bundles; is leveraging digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce. The platform helps farmers participate in e-commerce, get paid on their mobile money, and more!
- Quiqpay; is leveraging digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce. The platform helps farmers participate in e-commerce, get paid on their mobile money, and more!
- Bafana.io; This amazing startup is giving over 1200 African artists and creatives a personal page where they can easily share their work and a digital wallet to collect tips/payments from their fans worldwide.
- Uplus Mutual Partners (Uplus); is a digital group financing platform where people can efficiently raise funds and savings with their family, friends, and colleagues.
- PesaChoice; is a financial technology company that focuses on data-based lending. The startup offers short term loans without the requirement of collateral.
- CentWise; aims to unlock financial access for micro traders such as street vendors and hawkers by building alternative collateral products. The company converts financial data into bankable profile insights.
- PayingTone; is a marketplace that provides ecologically trackable products and services on credit. The platform brings a digital product passport technology to enable a gamified ecological footprint tracker for recurring consumption customers.
- Exuus; is a FinTech company working towards achieving universal financial inclusion for both the unserved and underserved through technology. The company’s flagship product SAVE is a digital & inclusive wallet that allows users to manage their savings (individually and/or in saving groups) and spending.
Over the next three months, CcHUB will be supporting the teams to achieve product stability and scalability, market readiness and investment. They will be able to leverage mentorship from industry and domain experts while taking advantage of Google products and Mojaloop. This first program cohort will conclude with a demo day in July 2022, where the startups will present to investors through the CcHUB syndicate.