Startup accelerator funds have been the force upholding African startups over the years and inspite of the numerous funds generated by startups in the African tech space in March 2021; it still brings heartwarming smiles when we get to hear of another startup receiving fund. Today, it is news of five Nigerian Fintech startups been accepted into the third cohort of the Labs by ARM Accelerator Program and will receive $50,000 startup fund.
Labs by ARM 3.0 is designed to engage post-MVP Fintech startups in a series of activities aimed at exponentially advancing the growth of their companies within a short time frame, and ensuring their investment-readiness. This edition focused in Fintech startups with well-rounded startups with technology that is relevant for Africans and the African business space.
The five selected startups are
Pass was founded by Eze Samuel Chukwunonso to make online shopping easy. The application allows users trading through e-commerce stores or social media vendors track their orders and get the items delivered quickly.
Bongalow was founded by Kelechi Nwokocha, Abdulrahman Atta, and Samuel Haruna, to help Africans everywhere to shop for affordable home financing solutions from the comfort of their homes. The application allows user access new mortgage loan or refinancing at the best rates.
Plumter led by Yinka Elujoba provides instant, multicurrency accounts for easy local and diaspora banking. The platform provides currency exchange at low rates and offer diverse ways of loading your cards, use bank transfers, card payments or USSD.
Breeze was founded by by Chimenem Nnwoka to provide Nigerians with forex liquidity needed to trade and transact globally. The platform is available in more than 100 countries globally and offer good rate on exchanges.
House Africa was founded by Ndifreke Ikokpu and Nnamdi Uba to help financial institutions and individuals validate properties before investment or purchase. The platform allows for more convenient, secure, quick, transparent, and affordable property transactions with the use of technology.
These five startups will work within themselves for12 weeks on product and market development and will also get the opportunity to work with selected partners and mentors who will provide hands-on support for the startups.