">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Sunday, January 24, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Fintech

Kenya’s Turaco & Uganda’s Chipper Cash receive $60k each from Catalyst Fund for growth

Sarah Williams by Sarah Williams
2 years ago
in Fintech, Startups
9 min read
0

Catalyst Fund, which invests in early-stage ventures working in the financial inclusion sector in emerging markets has selected Kenya’s Turaco and Uganda’s Chipper Cash into its latest cohort.

Kenya’s Turaco is a low-cost insurance provider targeting low-income customers with premium payments of as low as $2.

Turaco is targeting over 14.2 million people pushed into poverty due to expensive health expenses by partnering businesses to provide affordable insurance products to blue collar workers via its B2B service. te premiums are deducted automatically.

In Kenya alone, fewer than 22% of the population has insurance and the total addressable market in Africa totals roughly about 89 million Africans.

Uganda’s Chipper Cash is a free, peer-to-peer mobile money remittance service across Sub-Saharan Africa regardless of one’s mobile money provider. Chipper allows low income customers to easily transact instantly without a fee.

Launched in 2017, Chipper Cash has on-boarded over 40,000 customers in Ghana, Kenya, Tanzania, Rwanda, and Uganda. 

The firms will each receive between $50,000 to $60,000 in non-equity support and six months mentorship and technical assistance to see them grow, network and generate revenue as well as connect with global VCs.

Related posts

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021
0

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
0

Free money transfer service Taptap Send launches its services to Kenya

January 22, 2021
0

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0

Managed by BFA, Catalyst Fund’s program was founded in 2016 with the support of the Gates Foundation and JPMorgan Chase & Co and supports fintech products and services that meet the needs of low-income customers in emerging markets.

READ  CEO Weekends: Vironow Wants to Enabling You to Sell Anything Online Via a Simple Link

“These four startups were accepted into our latest cohort because of their intentional focus on low-income customers, their unique value propositions that create meaningful products and services that are relevant to them, and for their deliberate use of technology to reach customers living in low-tech, low-trust, low-resource, last-mile environments,” announced Catalyst Fund.

Salutat and Diin are the two others selected for their tech-enabled communication platform for traditional financial institutions in Southeast Asia and Africa; and a savings and investment platform for Latin America.

Meet the newest companies- Turaco, Chipper Cash, Diin, and Salutat

Diin is an investment platform for low-income Brazilians that incorporates customer-centric, behavioral nudges to maintain frequent contact with its users. Specifically, Diin helps users set savings goals, create a savings schedule, offers financial management tips, and invests clients’ savings in public bonds and other funds to provide returns to clients.

Diin helps set savings goals

By reducing decision-making responsibilities, Diin has created an appropriate product for first-time savers. Low-income people struggle to save money as they balance urgent expenses and low, inconsistent incomes. However, Diin, is out to change this narrative to build a strong savings culture among the middle and low-income population in Brazil, starting in Sao Paolo.

Salutat is a customized communication platform that helps traditional financial institutions improve customer-relationships and customer engagement. Salutat uses advanced technology to help traditional financial institutions better understand and connect with low-income users through a more appropriate communication tool.

As digital-lending fintech companies in emerging markets are growing and offering user-experiences that customers want, brick-and-mortar microfinance institutions (MFIs) are struggling to keep up and are losing customers. Salutat enables personalized, two-way chats with customers, and organizes chats sent via WhatsApp and Facebook Messenger into formats ready for analysis.

READ  3 Tips to Save Money Booking Your Next Hotel Room

Salutat uses behavioral science to enhance conversations between loan officers and end-customers, reducing the need for many face-to-face interactions and phone calls. This decreases the service cost and improves service levels.

Readers 6,090

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Sarah Williams

Sarah Williams

Sarah Williams is a successful business woman who has a great interest in diverse subjects. She has learned a lot at the hands of every experience – good or bad. Her write-ups are a true manifestation of her rich experiences and her eventful life.

Related Posts

Startups

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021
0
Startups

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
0
Startups

Free money transfer service Taptap Send launches its services to Kenya

January 22, 2021
0
Health

54gene launches a genome sequencing lab to track infectious and non-communicable diseases prevalent in Nigeria

January 22, 2021
0
Startups

Uganda’s Innovex raises funding from Gaia Impact Fund to enable remote monitoring for solar companies

January 22, 2021
0
Startups

Aerobotics Raises $17 Million Led by Naspers To Scale AI for Agriculture Globally

January 21, 2021
0
Startups

Tanzanian money remittance startup NALA is launching in the UK

January 21, 2021
0
Startups

Startup Guide to release of Startup Guide Nairobi

January 21, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
Toshiba

Chrome Now Helps You Change Weak Passwords

January 23, 2021
Toshiba

Shoppable Ad Formats Are Coming Soon To Youtube

January 23, 2021

Hero MotoCorp Surpasses the Monumental 100M Cumulative Production Milestone

January 23, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: