Three African blockchain startups have received grant funding from the UNICEF Venture Fund, which looks to support early-stage ventures in solving local and global challenges.
After receiving 450 submissions from 77 countries, the UNICEF Venture Fund is investing in seven blockchain startups, with solutions addressing the fact that 1.7 billion people around the world remain unbanked.
The selected startups will receive up to US$100,000 in grant funding, with the five of the seven choosing to receive a portion of the investment in Esther. Among the startups chosen, five of them are female-led. Two of the companies are from Kenya, one from Rwanda, and the rest from Argentina, India, Mexico, and Nepal.
The Kenyan investees are Grassroots Economics, which runs programmes that empower marginalized communities to take charge of their own livelihoods and economic future, and Kotani Pay, a technology stack that enables blockchain protocols, dapps, and blockchain fintech companies to integrate seamlessly to local payment channels.
Additionally, Rwanda’s Leaf offers virtual banking services to vulnerable populations crossing borders, connecting people to their own savings conveniently and affordably.
COVID-19 has impacted children and their communities, and many around the world will continue to see their lives disrupted significantly. We can see how important inclusive and affordable digital solutions are, including those that open access to financial systems and services,” said UNICEF Ventures lead Sunita Grote.
