Exploring Africa’s blossoming fintech ecosystem, The Fintech Occasions delves into the success of Visa’s Accelerator Program from the cohort’s perspective, uncovering this system’s instrumental position in fostering and bolstering startups throughout the continent.
Happening nearly over the course of 12 weeks, The Visa Africa Fintech Accelerator program goals to assist the expansion of fintech startups throughout the continent. The primary version of the accelerator noticed a cohort of 23 startups from international locations throughout Africa obtain assist by way of experience, connections, know-how, and funding funding.
Following this system, Visa plans to additional assist the fintech startups with funding and different assets to be able to assist speed up their progress and make a major affect on the African digital economic system.
As a part of a particular video interview sequence, Simon Ward, CEO and Founding father of Floatpays, an worker advantages firm that goals to advertise monetary inclusion for everyone, sat down with The Fintech Occasions to share his ideas on the African market, in addition to the corporate’s involvement with the Visa accelerator.
A maturing ecosystem
Contemplating the present African ecosystem, Ward mentioned that “maturing” is probably the most acceptable description, believing there’s potential for fintechs to take maintain within the monetary world.
He mentioned: “There’s quite a lot of enthusiasm in partnering with fintechs, which in our sense didn’t exist some time in the past. It was very a lot conventional enterprise and conventional banks, however as we transfer ahead, we’re seeing extra of these forms of conventional organisations desirous to companion with startups to drive innovation by means of these ecosystems. It’s positively a maturing panorama and a really thrilling one.”
It’s an curiosity in partnerships that was significantly helpful for Floatpays throughout the Visa Accelerator, with introductions to the opposite members of the cohort being a key facet of their involvement.
“Assembly the opposite 22 startups within the group has been extraordinarily helpful to us,” he defined. “To know their challenges, what they’re taking a look at doing, what Africa means to them of their particular area and potential partnerships which might come from that was improbable. There are quite a lot of collaborations and concepts which might really formulate new enterprise considering by means of this system.”
Business expertise
The advantages of this system have been exponential to the startups concerned, with Ward explaining it has been an “thrilling few months to be part of the Visa Fintech Accelerator program.”
Ward continued: “Before everything, one of many sights of the accelerator was the direct interplay that we might have with Visa. We’ve got a number of product concepts we’re beginning to take a look at out when it comes to monetary inclusion and having a companion like Visa to assist us on that journey was an enormous benefit.
“Having mentors on this system to sense test the place you’re at has been nice, we’re all at completely different levels in our enterprise evolution so Plug and Play have finished an incredible job of bringing in a pleasant number of mentors the place we might quiz them and profit from the expertise when it comes to serving to mature our startups and actually get us prepared for that subsequent stage of progress.”
To be taught extra about Floatpays, its place within the African market and involvement within the Visa Fintech Accelerator, watch the total video interview beneath.
