Visa has announced the 19 startups selected for the third edition of its Africa Fintech Accelerator, a biannual program launched in 2023. The initiative provides mentorship, industry connections, and access to tools to help fintech startups scale. It aligns with Visa’s commitment to invest $1 billion in financial inclusion in Africa by 2027.
Since its inception, the program has supported 45 startups across two cohorts. The 19 newly selected ventures hail from across Africa, including Nigeria, Kenya, Ghana, South Africa, and Algeria, and will benefit from mentorship, technology credits, and potential investment opportunities during the three-month accelerator.
Meet the Selected Startups:
1. Credable (Kenya) – Founded by Nadeem Juma in 2022, Credable offers a digital banking platform serving businesses in East Africa. With over 1.2 million accounts and 200,000 users, it raised $2.5 million in seed funding in 2023.
2. Melanin Kapital (Kenya) – Founded in 2020 by Melanie Keita and Ian Minjire, this fintech transitioned into a green credit platform for SMEs. It secured funding from Adaverse Accelerator in 2023.
3. Umba (Nigeria) – Founded in 2018 by Tiernan Kennedy, Umba is a digital microfinance bank that has raised $20 million in funding to date.
4. Zendawa (Kenya) – A health-tech startup founded by Wilfred Chege and Dr. Victor Achoka in 2022, Zendawa connects users with pharmaceutical products through its online marketplace.
5. Block Markets Africa (South Africa) – Co-founded by Tobie van der Spuy in 2018, it provides Web3 advisory services to banks and financial institutions.
6. Ordev (South Africa) – A middleware solutions provider for retail and hospitality, enabling seamless integration of digital services.
7. Sticitt (South Africa) – Founded in 2017 by Theo Kitshoff, Mitch Dart, and Dennis Wevell, Sticitt offers cashless payment solutions.
8. Bumpa (Nigeria) – Founded by Kelvin Umechukwu and Adetunji Opayele in 2021, Bumpa raised $4 million in 2022 to streamline commerce for African businesses.
9. Kredete (Nigeria) – Launched in 2022 by Adeola Adedewe, Kredete enables African immigrants in North America to send money home and build credit. It raised $2.25 million in 2024.
10. NearPays (Nigeria) – Founded by Victor Daniyan, NearPays offers a full-service payment platform and won the 2023 Fintech and Blockchain Technology category at the Supernova Challenge.
11. Enza (Egypt) – Co-founded by Hamish Houston and Hany Fekry, Enza helps banks engage SMEs with mobile payment services.
12. MoneyHash (Egypt) – Founded in 2020 by Nader Abdelrazik, Mustafa Eid, and Anisha Sekar, MoneyHash is a payment orchestration platform that raised $4.5 million in 2024.
13. Fixa (Rwanda) – Founded in 2020 by Tafara Makaza and Jansen Durham, Fixa connects businesses with blue-collar workers.
14. Kacha (Ethiopia) – Led by CEO Abreham Tilahun Abera, Kacha aims to drive mobile money adoption and plans to list on Ethiopia’s stock exchange.
15. Moneco (Algeria) – A neobank focused on serving migrant communities in Europe, starting with the African diaspora.
16. WafR (Morocco) – Founded by Ismail Bargach and Reda Sellak in 2018, WafR offers digital payment solutions and has raised over $1 million to date.
17. JABU (Namibia) – Founded in 2020 by David Akinin, JABU is a B2B e-commerce platform connecting suppliers with over 6,000 retailers, having raised $15 million in a Series A round led by Tiger Global.
18. PaySika (Cameroon) – Founded in 2020 by Roger Noel Nengwe and Bisselou-Nzengue, PaySika is a neobank that raised $350,000 in pre-seed funding in 2021.
19. WeWire (Ghana) – Founded by Ebenezer Ghanney, WeWire is a cross-border payment platform admitted into the Bank of Ghana’s regulatory sandbox in 2024.
The Visa Africa Fintech Accelerator continues to foster innovation across the continent, empowering startups to transform financial services and drive inclusion.
