Chumz.io, a Kenya-based fintech startup, which took home Latitude59 Kenya Pitch Competition last year is expanding across Africa. The app, which helps users set and achieve saving and investment goals through behavioral-based prompts and mobile money deposits, is testing its Rwanda launch this year.
Since their Latitude59 triumph, Chumz.io has made impressive strides. “Since last year, we hit 200,000 registered users in Kenya and we are testing our solution to go live in Rwanda this year. Our next big leap is to hit 1,000,000 users in Kenya by 2026 and be operational in Uganda, Tanzania and Botswana by then as well,” said Samuel Njuguna, the Co-Founder and CEO of Chumz.io.
One of Chumz.io’s standout new features is the Superfan Challenge, where users save and invest based on their favorite football team’s performance. “For example, if your team wins, the app prompts you to save a set amount,” Njuguna explained.
Latitude59 boosted Chumz.io’s growth
Winning the Latitude59 Kenya Edition’s Pitch Competition wasn’t just a trophy moment for Chumz.io—it opened doors. “It was a good networking platform where we met some of the industry leaders and we have engaged with some of them for feedback and partnership. We also go to get clients who were part of the audience and from the media coverage of the event,” said Samuel Njuguna.
Participating at the Latitude59 Kenya Edition Pitch Competition offered the Chumz team a chance to learn from seasoned pitching coaches and gain international exposure. “It was a great experience to be trained by experienced pitching coaches, engaging a well seasoned startup community and presenting at an international stage. I would highly recommend entrepreneurs to apply!”
Latitude59 is seeking the boldest early-stage African startups
For the second year in a row, Latitude59 is seeking the boldest early-stage startups.
According to Latitude59’s CEO Liisi Org, early-stage B2B startups from Kenya and across Africa are welcome to apply. “Last year’s strong results showed us that African startups are competing at the highest level. So we are back in Kenya for the second year in a row and invite founders all across Africa to apply and present their startups at the Latitude59 Pitch Competition,” said Org.
From among all the applying startups, a selection will be made, and the finalists will be selected to receive professional pitch training and mentoring. The finals will be held on the main stage of the Latitude59 Kenya Edition 2024, which will be held at A.S.K Dome in Nairobi, Kenya on November 28, with side events such as the Investor Day spanning to November 27 and November 29 as well. The application deadline for the Latitude59 Pitch Competition in Kenya is November 1, 2024.
The teams will compete for various partners’ prizes and one African startup will receive an invitation to participate at the semi-finals of Latitude59 2025 in Tallinn, Estonia. Latitude59 will cover the cost of the roundtrip to Estonia. For two years in a row, the prize pool for the Latitude59 Pitch Competition in Estonia has been one million euros.
Apply here