Some weeks back, it was brought to our notice that some Nigerian startups made it to the final phase of the Innotribe Startup Challenge for Africa. The Nigerian startups included: FINT, Irofit and Releaf. I am glad to announce to us today that Nigeria’s Irofit was among the winners of the coveted challenge.
Irofit, a Fintech startup indigenous to Nigeria makes payment of goods and services quicker and easier with the mobile POS. Irofit offers this Fintech strategy in areas that even have less strong internet connection.
The Innotribe Challenge announced earlier this year featured a lot of applications from startups. Right after the screening of the applications from about 100 interested startups, 10 Fintech startups were selected for the final phase. The startups that made it to the final phase included: FINT from Nigeria; IroFit Technologies from Nigeria; ReLeaf from Nigeria; ThisIsMefrom South Africa; FinChatBot from South Africa; Mobissurance from South Africa; Ovamba from Cameroon; Inclusiveft from Ghana; Sokowatch from Kenya; Vugapay from Rwanda.
The finalists were presented with ample opportunity to pitch their products before the audience at the final which took place at SWIFT’s African Regional Conference (ARC) in Abidjan, Ivory Coast on 17 May 2017.
After the training, mentorship and pitching of products by the finalists, Irofit was among the three startups that came top of the pack. The other winners are Kenya’s Sokowatch (whose specialization is in making payment to merchants across Africa simple) and Rwanda’s Vugapay (whose area of strength is providing SMS solutions for big enterprises so as to link up with small shops who need their ordering services).
As benefits of winning the Innotribe Challenge, the startups will receive $10,000 cash and also partake in a 3-day event at Sibos in Toronto, Canada October this year.
Speaking on the Challenge, Fabian Vandenreydt, Global Head of Securities, Innotribe and SWIFT Institute stated that mentoring the finalists and exposing them to more knowledge about the Fintech sector was a thing of elation on the organization’s part.
“Our partnership with SWIFT’s African Regional Conference over the last three years has highlighted how much SWIFT’s community is keen to understand FinTech innovation, whether we refer to its latest developments, benefits or the opportunities it can unlock,” said Fabian.