10 companies have showcased their innovative fintech businesses at a ‘Demo Day’ in Cape Town, as the first-ever cohort of the Barclays Accelerator in Africa concluded. The three month fintech accelerator programme was hosted by Rise, Barclays Africa’s open innovation hub, in Cape Town.
The Barclays Accelerator, powered by Techstars, is an intensive startup programme designed to capture, shape and scale the next generation of innovative fintech businesses. The programme draws upon mentors from across Barclays and the Techstars network.
An audience of more than 400 including investors, industry experts, fintech specialists, as well as Absa and Barclays executives attended the Demo Day to hear how the startups are tackling different challenges on the African continent and ultimately help shape the future of financial services across insurance, payments and agriculture.
Commenting on the programme, Head of Open Innovation at Barclays Africa, Paul Nel said: “As Barclays Africa we are committed to driving leading fintech innovation that translates into lifestyle-enabling products and services for our customers, and creates greater financial inclusion across the continent.”
“We are thrilled with the quality of the ventures. This first-ever cohort to participate in the Barclays Accelerator programme in Africa has set the bar very high. They richly deserve the opportunity to showcase their businesses at the Demo Day, and attempt to secure further investment and signed POCs.
Yossi Hasson, Managing Director of Techstars in Cape Town added: “The Barclays Accelerator, powered by Techstars once again showed why it is the pre-eminent fintech accelerator in world. This Africa class will now join the Techstars global ecosystem which spans 15 000 community leaders, mentors, founders and investors across 137 countries.”
During the event the companies highlighted their impressions of the programme.
Asoriba (Ghana): “Depth is the word I will use to describe our experience in the Barclays Accelerator programme. With the help of the team, we have gone deeper into our business and have identified what we need to do to make it a success. Before now, we have been struggling to focus on our end-goal. Thanks to great leadership of Yossi Hasson, MD of Techstars Cape Town, and the entire team, we have learnt to be excellent at what we do and dive deep into the clients’ needs. We also lacked knowledge around email marketing and how to keep a clean domain name. We actually had issues with our mass email provider. Techstars helped us fix these issues, signed us up on a new email service and helped us get our transactional and marketing emails up and running again,” said Nana Agyeman-Prempeh.
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