After a four-hour long pitching battle, FinChatBot emerged winner, taking home the US$1,000 prize.
Launched in 2016, FinChatBot developed an AI-powered chatbot platform known as Holly, specifically for financial service and insurance providers.
Holly’s aim is to increase insurance companies conversion rate whilst also reducing call centre costs.
Holly, available 24/7 and can be integrated on any platform as it follows all marketing and design guidelines, ensures businesses are able to engage their customers in the way they enjoy the most; text.
The startup has gained traction as some of its clients are top insurance companies operating in South Africa.
“Winning this event has served as yet another form of validation of our concept and the direction we are taking with this innovative solution to disrupting the financial industry,” the startup stated in a post.
Following the contest, 500 Startups partner and representative of the Black Founders network, Monique Woodward explained the potential in African tech companies. She stated that US based VCs are missing out on a tremendous and underserved market.