NEWS
Visa Opens Doors To 21 African Fintechs Seeking Investors And Customers
Visa Opens Doors To 21 African Fintechs Seeking Investors And Customers
Selected startups operate across 24 African markets.
Healthcare finance, merchant services and cross-border payments feature.
Niger, Togo and Seychelles enter the programme for the first time.
Channel
Three months of training and introductions come without guaranteed investment.
October 7, () – Visa has selected 21 African fintech companies for an accelerator that will connect founders with financial institutions, technical specialists and prospective investors as they seek to expand their businesses.
The sixth cohort includes companies that finance healthcare providers, process insurance claims, and help online merchants collect payments. Participants come from nine countries and operate across 24 African markets, according to Visa’s announcement.
During onboarding in Accra, founders met organisations, including Ghana Interbank Payment and Settlement Systems, GCB Bank, Onafriq and EY Ghana. Businesses from Niger, Togo and Seychelles are participating for the first time.
For the selected companies, those introductions could help secure the partnerships needed to enter markets or reach customers. Any commercial agreements would still have to be negotiated.
Financing Pharmacies and Getting Hospitals Paid
Among the participants is Rigo, which offers financial services to Nigerian healthcare businesses. Its products include financing for pharmacies, clinics and hospitals to restock, purchase equipment or expand, alongside payment and financial-management tools.
Rigo appears alongside Clinify, Fincart, Ivorypay, Orchestrate Global, Remi, TrashCoin and Zeraki on programme partner Plug and Play’s cohort list.
Clinify addresses the paperwork and approvals involved in health insurance payments. The company says its AI platform supports claims submission, identifies missing information and tracks claims through approval and payout. These are its stated capabilities; the material reviewed did not include independently verified improvements in payment speed.
Meanwhile, Egypt’s Fincart connects shipping management with financing for online sellers. It says financing options depend on more than six months of shipping performance through its platform, allowing trading records to inform access to credit.
Cross-border settlement company Remi is working on connections between financial institutions moving money into Africa. Its cofounder and chief executive, Tony Amer, said those payments need “better plumbing between the institutions already moving the money.”
In its October 1 participation announcement, Remi said it was still building towards launch on its first corridor.
What Accelerator Provides
Visa’s three-month programme combines mentorship, technical training and business development with investor meetings. Founders receive guidance covering product design, marketing, finance and sales before presenting their businesses at an in-person Demo Day.
Funding is conditional. Visa says startups completing the programme may be considered for investment by Visa or Plug and Play. Other venture capital investors also attend Demo Day, but admission does not establish that a company has raised money.
Participation carries no programme fee, although founders must budget for flights, visas and other expenses. Visa covers accommodation for one founder per participating company attending Demo Day.
The immediate work, for Remi, includes preparing its first payment corridor and developing relationships with financial institutions. Its October announcement says it intends to share further progress at Demo Day.