Global inclusive tech accelerator Catalyst Fund has announced the ninth cohort of its Inclusive Fintech accelerator, with three African startups among the six selected that are building solutions designed to improve the resilience of underserved customers and communities.
Catalyst Fund, managed by BFA Global, is a global accelerator that supports inclusive fintech innovators and facilitates the growth of innovation ecosystems in emerging markets. Its Inclusive Fintech programme provides startups with catalytic grant capital, bespoke venture building support from emerging markets and fintech experts and access to a global network of investors and corporate partners.
The flagship Catalyst Fund inclusive fintech accelerator is supported by the UK Foreign, Commonwealth and Development Office (FCDO), JPMorgan Chase & Co., and latest partner PayPal, and fiscally sponsored by Rockefeller Philanthropy Advisors.
The companies joining the ninth Inclusive Fintech cohort include three from Africa – Nigeria’s Crop2Cash, which unlocks affordable financing for smallholder farmers and provides digital finance solutions along the agriculture value chain; South Africa’s HealthDart, which offers easy and affordable access to medication and primary health services; and Kenya’s Kazi, which connects skilled and casual informal workers with jobs.
Also selected are Ohm Mobility (India), PocketFin (India) and Verqor (Mexico). These companies will join Catalyst Fund’s existing portfolio of 45 companies and receive catalytic capital, bespoke and expert-led venture building support from BFA Global, and direct connections with investors and corporate innovators that can help them scale.
“We are extremely excited to welcome PayPal as the latest supporter of the Catalyst Fund, and to announce an additional focus on digital finance solutions for climate resilience,” said Maelis Carraro, managing director of Catalyst Fund.
“Climate change is already severely impacting low-income populations in emerging markets, who lack financial safety nets to cope with these additional shocks. Digital finance can be a game changer in enabling climate resilience solutions to better reach vulnerable populations, as we’ve already seen the ways in which it can enhance the breadth, depth, and affordability of solutions across industries. We look forward to exploring this space and continuing to build the resilience of vulnerable populations across emerging markets via fintech innovation, with the invaluable support of PayPal, JPMorgan Chase, and FCDO.”