Sw7, AlphaCode launch SA fintech accelerator for high-growth startups


South African tech accelerator Sw7 has partnered AlphaCode to launch the region’s first dedicated fintech acceleration programme, aimed at identifying and investing in high-growth startups that can change the landscape of the financial services industry.

Sw7 launched in July of last year and, funded by Microsoft BizSpark, runs nine-week, mentor-led programmes for technology entrepreneurs.

It has now partnered AlphaCode, the next-generation business platform of financial services company Rand Merchant Insurance Holdings (RMI), to build an investment pipeline for RMI through the fintech accelerator.

“The AlphaCode mandate is to build an investment pipeline for RMI and with this partnership, we have an opportunity to engage with fintech entrepreneurs,” said AlphaCode senior investment executive Dominique Collett.  

“We are looking for ways to support and increase the quality of their businesses and Sw7 offers us an identification platform which enables us to engage with potential investments and helps structure the businesses for significant growth.”

Sw7 co-founder Odette Jones said working with AlphaCode would give Sw7 a strong support structure and insight into the next generation financial services industry.

“The Sw7 team has a strong fintech background and offers one of the strongest mentor pools in the region. Together we can offer the businesses on the programme fantastic exposure to industry experts and thought leaders to help rapidly scale their businesses,” she said.

Keith Jones, Sw7 co-founder, said the programme was looking for sustainable high-growth businesses that can create long term value for investors.

“The Sw7 mentor pool, methodology and content, combined with the support offered by the Microsoft BizSpark and BizSpark Plus programmes and the exposure to RMI’s portfolio of companies through AlphaCode, will give the businesses the appropriate tools to position themselves for significant growth in the fintech space,” he said.

Sw7 Fintech will start in January 2016 and run for nine consecutive weeks, with evening sessions and structured mentoring sessions during the day. Recruitment opens on October 20 and closes on November 10.  Those wishing to be notified of the registration opening can email info@Sw7.co or visit www.Sw7.co.

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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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