LHoFT Announces 15 Startups For CATAPULT: Inclusion Africa

15 startups were selected out of a total 400 applications to participate in the CATAPULT: Inclusion Africa camp (Photo © LHoFT)

The selected startups are working on improving financial inclusion across Africa and building bridges with the grandy duchy. The acceleration bootcamp will take place from 24-28 October 2022.

Since 2018, CATAPULT: Inclusion Africa, a special accelerator developed by the LHoFT Foundation and sponsored by the Ministry of Foreign and European Affairs, has been selecting African startups working on financial inclusion.

According to the press release, this year’s fifth edition marks the highest number of applicants ever. With over 400 applications received, one can assume that the 15 selected applicants might be the best yet.

Taking place from 24-28 October 2022, the applicants will go through a rigorous programme that will test them and help them improve their approach to financial inclusion. This year, the candidates will also participate in Arch Summit 2022 and get the chance to learn about the latest technological trends and make meaningful connections.

As usual, the programme will be delivered in collaboration with key stakeholders from the microfinance, sustainable finance and traditional finance sectors, thereby giving both parties the best opportunities to succeed. These include, among others, Ada, Luxembourg for Finance, the European Investment Bank and many more.

Register to attend the final pitch event and the celebration of Fintech Friday, here.

The 15 participants include

AFRICRED – Bamako, Mali

AFA SARL is a West African fintech company incorporated in 2017. Since 2022, AFA has launched a project called AFRICRED whose mission is to provide digital finance solutions (adapted blockchain-based technology adapted loans to grow loan portfolios) to microfinance, insurance institutions, and banks on a revenue-sharing model. 

Agrix Tech – Yaounde, Cameroon

Agrix Tech is an Agri-FinTech company helping small-scale farmers to transition from subsistence farming to commercial farming and maximise their profit. Agrix Tech bundles and provides farmers with everything they need: financing, farm inputs, advice, insurance and, when possible, market access. 

Alajo – Lagos, Nigeria

Alajo is a 100% female-founded Personal Finance Platform, that is designed to be the smart solution to the Historic and Traditional Thrift Savings System called Ajo. 

ChapChap Africa – Kampala, Uganda 

ChapChap Africa provides financial digital tools to MSMEs in Africa by enabling informal entrepreneurs to 1) add new business lines by extending financial services to low-income people, 2) digitise their bookkeeping, and 3) build a verifiable digital credit profile. 

ComGrow – Lusaka, Zambia 

ComGrow is about to launch is the ComGrow platform: a mobile application available on Android and iOS that is a fully interoperable solution. The company is currently setting up as a data collection and management system that will facilitate savings and credit group operations through integration with other payment systems in order for users to transact (save money into their group fund and receive money that they have requested to borrow). 

Radava Mercentile – Nairobi, Kenya 

Radava Mercantile provides an agricultural commodity exchange market, alternative financing, and post-harvest technologies to smallholder farmers in sub-Saharan Africa. 

Hello Tractor – Nairobi, Kenya

Hello Tractor is a pay-as-you-go loan technology finance company that unlocks low risk, lower-cost financing for rural entrepreneurs while de-risking the creditor through tractor investments into pre-booked assets.

Kayko – Kigali, Rwanda 

Kayko’s Mobile App helps small businesses simplify their financial management to access financial services conveniently. 

Lami Insurtech – Nairobi, Kenya

Lami Insurtech is revolutionising insurance for underwriters and businesses in Africa via an end-to-end insurance platform and powerful APIs.

Nkwa – Buea, Cameroon

Nkwa is a digital piggybank that lets its users plan, save and invest money.

Proxalys – Dakar, Senegal

ProXalys SAS is a startup whose vision is to digitalise the West African informal trade around 3 main offers:

1) – ProXalys marketplace, which is a platform that allows local shop owners to buy agricultural products but also consumer goods at the best quality/price ratio with an option to pay in instalments.

2) – ProBoutik, which is an application that gives retailers the possibility to check their credit given and eventually take advantage of our financing offer.

3) – ProCash which will be integrated into the ProBoutik application to allow them to receive cash by mobile money and make their financial transactions in complete security.

Servichain – Luxembourg, Luxembourg 

Servichain uses blockchain benefits to propose digital and financial services efficiently. 

Sosocare – Abuja, Nigeria

SOSO CARE is a health insurtech which aims to use recyclable garbage as a financial resource enabling millions of uninsured slum dwellers, mostly pregnant women and kids, to access micro health insurance across over 1,000 hospitals nationwide. 

Yalla Solutions – Cairo, Egypt

Yalla Solutions is a digital financial services platform, that democratises access to financial services to the masses using digital-first, user-friendly experience in the form of a card + Super App.

Susu France – Lyon, France

About a billion people in Africa are priced out of healthcare services and health insurance relief. DanAid is a micro-health insurance providing them near real-time access to money for their care through their mobile.

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