Savings platform Exuus has been named winner of Seedstars’ event in Kigali, Rwanda, securing a place in the global final to pitch for up to US$500,000 in equity investment.
Seed-stage startup competition for emerging markets Seedstars World is selecting national winners from all over the world, including around 30 African countries, and will bring them together at the Seedstars Summit in Switzerland next year to compete for the equity investment and a host of other prizes.
It has already chosen winners in Kenya, Ghana, Tanzania, Egypt, Senegal, Sierra Leone, Angola and The Gambia, and held its event in Kigali last week at Westerwelle Startup Haus. Eight startups were invited to present their companies in front of a local jury panel.
The overall winner was Exuus, which is taking traditional savings groups online in a bid to smooth processes and help low income communities become more financially resilient.
Formed in 2016, the startup has developed SAVE, a digital platform that financially empowers saving groups – known as Village Savings and Loan Associations (VSLAs) – sustainably via a collective and decentralised ledger.
Exuus will now represent Rwanda at the Seedstars global final in Lausanne next year, where it will have the chance to pitch for up to US$500,000 in funding, as well as the Seedstars Africa Summit in Johannesburg in December. It will also gain access to a three-month investment readiness programme.