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Innotribe’s startup challenge has now moved onto its next phase – the finals. This phase is marked by the selection of 10 startups in the Fintech category.

The third edition of the challenge is aimed to give mentorship, training and funding to young and promising Fintech startups. The challenge also gives the startups the privilege to pitch their products.

Just like its previous editions, Innotribe announced that applications could be submitted and afterwards, 100 submissions or thereabout were submitted from startups in several countries across Africa, with Nigeria, Kenya and South Africa taking the lead seat.

After the submission phase, the participants’ applications were analyzed strictly by a panel of judges. After the assessment, the 10 financial technology startups were selected. The startups are highlighted below:

FINT from Nigeria; IroFit Technologies from Nigeria; ReLeaf from Nigeria; ThisIsMe from South Africa; FinChatBot from South Africa; Mobissurance from South Africa; Ovamba from Cameroon; Inclusiveft from Ghana;  Sokowatch from Kenya; Vugapay from Rwanda.

Fabian Vnadenreydt, Global Head of Securities Markets, Innotribe and SWIFT Institute stated that new blood has entered into the finance sector, and that more record grounds will be broken in the sector.

“It is a pleasure for us to see the number of African startups applying to our programme growing year after year. Their calibre continues to impress, and there is no doubt they are going to play an important role in shaping the future of finance,” explained Fabian at SWIFT.

Fabian continued, “The Startup Challenge is an enriching experience for all participating companies. They benefit from expert mentoring and get that much needed exposure to financial institutions. We look forward to collaborating with another bunch of talented startups, and start this year’s journey in Abidjan!”

The Nigerian Fintech startups along with the other 7 startups will receive training sessions from experienced entrepreneurs before they’ll pitch their products formally on 17 May 2017 at SWIFT’s African Regional Conference (ARC).

This being the concluding phase of the challenge; will see three startups claiming the top three spots and winning cash prizes. The cash prize is worth US$10,000 for each startup. Another benefit is that they’ll automatically qualify to partake in a 3-day event at Sibos in Toronto, Canada October this year.

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