The Visa Bootcamp, organized by multinational payments company Visa and early stage venture capital (VC) firm and global accelerator based in Hong Kong, Nest has come to an end with 10 startups pitching their businesses on Demo Day in Nairobi, Kenya.
Announced late last year, the Visa Bootcamp was aimed at accelerating innovation from across Africa and the world that are shaping the future of finance for consumers and businesses across the continent.
The program was open to startups with solutions to Financial literacy; Personal financial management – loan calculator; Financial education; Authentication; KYC; Finance & accounting tools; Solutions for the un (under) banked; and mobile payments.
122 startups from 12 countries, including Kenya, Uganda, Rwanda, Ghana, and South Africa, applied for the bootcamp with only 10 eventually selected to participate. They are:
- SokoWatch (Kenya) – a feature phone enabled consumer product fulfillment between informal retailers & large FMCGs.
- Ajala Studios (UK) – a native language and speech processing application deployable within banks.
- MobiTill from Data Integrated (Kenya) – a mobile POS solution for SMEs.
- Bamba POS (Kenya) – a cloud-based POS and an inventory management system for SMEs.
- Lipisha (Kenya) – a value-added payment aggregator for businesses through the use of mobile technology.
- Okhi (Kenya) – a mobile-based imaging and location solution which aims to facilitate verification processes for financial institutions.
- Eat Out (Kenya) – a payment-based rewards solution for restaurants.
- Kwanji (UK) – a multi bank FX comparison and payment execution platform. Affordable & accessible for SMEs.
- Overview Technologies (Finland) – a mobile money based personal financial management application & payments solution.
- Lakt (Kenya) – a personal financial management app featuring a financial literacy aspect targeting millennials.
The selected startups worked alongside leaders in the financial services industry, integrate with Visa APIs, access tools and Nest’s resources to scale their businesses in Africa and beyond.
Also, the startups were coached by Nest’s mentors and mentors from Visa’s teams in Kenya, South Africa, the UAE and across the world.
The four days bootcamp came to an end on 27 March 2017 with a Demo Day, where the selected startups pitched their businesses.
“The Visa Bootcamp brings together marquee innovators solving critical challenges in the FinTech landscape on a structured platform for these highly promising businesses to explore partnerships with Visa and its partner bank network, as well as have one-on-one interactions with potential funders,” said Aaron Fu, Nest’s Managing Partner for Africa.