Apply Now: $130,000 FinTech Innovation Startup Funding from VISA

Posted on March 18, 2021 by Design in Design Innovation | 0 Comments

Innovation in digital financial services is allowing Africans to move up the “financial services value chain.” From mobile money payments, customers in sub-Saharan Africa are gaining access to mobile banking and other services as they open saving accounts, take out loans, purchase insurance, and invest in Government securities or in stock markets with a few touches of their mobile phone. They can even “borrow” electricity and pay later instead of sitting in the dark.

New innovations in fintech are proceeding rapidly. New technologies are being developed and implemented on the continent, and they have the potential to yield significant benefits for Africa. Recognizing this, foreign investors have stepped up their backing for African fintech firms, while those firms develop solutions adapted to the region, for example, to cater for the relatively lower internet speed in some areas. The falling price of smartphones will also help the region reap the rewards of internet-based solutions.

$130,000 FinTech Innovation Startup Funding

Visa Everywhere Initiative is an open innovation program that helps startups demonstrate ground-breaking solutions. Over the past five years, more than 7,000 startups have participated, and they’ve collectively raised more than $2.5 billion in funding.

This year’s global startup competition will feature one winner per region and global finals. Startups with great products already in market and gaining traction should participate to gain scale with a trusted brand like Visa. Applicants should be companies from Central Europe, Middle East and Africa with innovative payment and commerce solutions to consumers and businesses, including:

Blockchain and cryptocurrency
Alternative lending
Personal financial management
Money transfer and remittance
Digital banking (aka neobanks)
Digital wallets, P2P, and transfers

At the conclusion of the CEMEA Regional Finals, the Finalist will be awarded $15,000 USD. This region has one of its five spots reserved for an Ethiopian startup. It will be awarded an additional $15,000 USD. Finally, $100,000 in monetary prizes will be awarded during the global finals event.

Apply Now! Deadline is April 9, 2021

Do you want to get advice on how to apply for USAID grants or get startup investments for technology entrepreneurs?

Then please sign up now to get our email updates. We are constantly publishing new funding opportunities like these:

The post Apply Now: $130,000 FinTech Innovation Startup Funding from VISA appeared first on ICTworks.