Two Ivory Coast-based fintech startups have secured funding from VC firm I&P through its I&P Acceleration Technologies programme, which is funded by the French development agency.
I&P Acceleration Technologies is a EUR2.5 million (US$3 million) programme that will finance and support around 15 digital startups in Sub-Saharan Africa, with a focus on West Africa, Central Africa and Madagascar.
The programme funds, trains and technically supports the selected entrepreneurs according to their needs, and is funded by the Agence Française de Développement (AFD) group through the Digital Africa initiative.
Two Ivory Coast-based fintech startups are the latest recipients of funding through the programme. They are Keiwa, a simplified accounting, financial management and inventory management application, and Legafrik, a digital platform to simplify legal, administrative, tax and accounting procedures for the countries of the OHADA area.
The two investments take the number of startups funded by I&P Acceleration Technologies to five, with the programme having also backed Mali-based on-demand motorcycle-taxi service Teliman, and two Madagascan startups. They are SmartPredict, a SaaS platform using artificial intelligence for predictive analysis that helps companies in the deployment of their projects, and rural electrification company Jiro-Ve.