Kenyan fintech startups invited to apply for Chase Bank, iHub support

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Chase Bank and Kenyan incubator iHub have announced an opportunity for two fintech startups to receive financial and advisory support in order to scale up their products.

Disrupt Africa reported in February iHub had partnered Chase Bank in an arrangement that would see the two organisations collaborate on advancing the country’s tech ecosystem and offer more innovative services to the bank’s customers and the general public.

Chase Bank has been on a push in the startup sector of late, launching SME Biz Hubs in Nairobi and Mombasa as well as sponsoring the PIVOT East pitching competition.

iHub described the bank as “at the epicentre of the entrepreneurial ecosystem”, and said this latest offering was designed to offer “game-changing startups” in the fintech and financial inclusion sector the chance to speed up their development.

“We understand that the tech environment is dynamic and that you want a partner to not only keep up but also accelerate your success,” iHub said.

The programme will see the partners support two startups through a mutually beneficial partnership, with Chase Bank providing free financial consultation and potential Integration of the innovation into its systems.

iHub and m:lab will provide iHub membership for up to one year, three months of mentorship, advisory services in areas such as market research and legal, and opportunities to attend training sessions at m:lab.

Fintech products that apply should have at least a working prototype, with the business registered as a legal entity. Interested parties should send a brief write-up to gladys@ihub.co.ke by August 13, including a business profile, details of key personnel, an overview of the solution, definition of need and coverage, and purpose of support sought.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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