6 SA based fintech startups to watch

Barclays Africa Group and Techstars have selected 10 financial-technology (fintech) companies to participate in a second accelerator programme.

The companies will participate in a 13-week growth acceleration programme at Barclays Africa’s Rise fintech innovation hub in Cape Town in May.

The 2017 Barclays Accelerator participants:

  • Abe.ai (USA): Designs artificial intelligence solutions for the banking industry, helping banks better engage and support their customers at scale; significantly reducing the costs of servicing and acquiring customers through the use of chatbots.
  • FOMO Travel (SA): Provides a gamification model for travel, which gives the user the opportunity to reduce their financial obligation through crowdfunding, rewards and incentives.
  • Avenews-GT (Isreal): Designed a digital trading platform based on blockchain technology, modernising agricultural trade by connecting food wholesalers to food producers directly, reducing distribution costs, creating financial security, and providing chain transparency.
  • Byte Money (SA): Provides solutions that help avoid mismanagement of payments in the ‘informal finance sector’. Byte Money taps into and revolutionises existing third-world payment channels and integrates them with first-world technologies.
  • Flexpay (Kenya): Provides an automated and secured layaway system that manages the purchase of goods. Customers can choose to pay for goods over varying periods of time.
  • Howler (SA): Provides an event commerce platform. Howler is the consolidation of three powerful events and entertainment platforms, designed at the highest benchmark of service and technology, helping consumers and event organisers to make moments that matter.
  • Spatialedge (SA): Focused on consumer analytics and targeting. Using a proprietary consumer database, Spatialedge enriches and verifies clients’ customers by spatially locating them, mapping them, and use advanced analytics to help clients locate and target new customers.
  • Kapitalwise (US): Simplifies the investment process for millennials by automating their investment decisions using machine learning and predictive analytics.
  • eCOIDA (SA): An online insurance technology platform; a central database that connects all role players in real-time, creating an accurate workflow, fraud-free, paperless claims-processing platform.
  • The Sun Exchange (SA): Enables anyone anywhere to own and earn from solar panels powering Africa, India and other developing economies. The exchange allows for collaborative solar finance using blockchain.

Applications were received from fintech startups in 52 countries.

The companies will now have the opportunity to work together with Barclays Africa Group and potentially gain access to their footprint comprising close to 12 million customers in 10 African markets, while gaining access to the Techstars worldwide network to help accelerate their growth and global expansion.

Read: This is how many people South African startups employ

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6 SA based fintech startups to watch