A total of 12 startups were yesterday selected to join the 3rd Village Capital FinTech for Agriculture: East Africa 3-month accelerator programme aimed at increasing incomes for smallholder farmers by improving their access to financial services.
Two out of the 12 ventures stand a chance to secure US$50,000 in funding each.
They include:
●Atikus Insurance:Expands access to credit by increasing the capacity of MSME lenders via reimagined insurance and technology risk solutions.
●Chamasoft: Web and mobile app to automate record keeping for investment groups.
●Ensibuuko:Builds ICT solutions to enable enterprises deliver financial services efficiently and to scale rapidly, reaching underserved communities.
●FarmDrive: Transforming how smallholder farmers access financial services.
●Farmerline:Provides accurate and timely agricultural information to farmers and also provides technology to stakeholders to work better.
●MShamba:Interactive platform for smallholder farmers and traders.
●Mobipay:Technology solutions to various economic sectors to drive commerce and trade.
●nanoCredit Technologies:Lending and derisking engines, providing structured digital finance for small farms.
●Rangerland Solutions:Online livestock marketing platform that directly connects buyers and sellers, reducing marketing costs.
●Redcore Interactive:remit.ug is a platform for online international money transfers to mobile money in Africa.
●SmartMoney:Free of charge branchless mobile banking to unbanked rural communities in Uganda and Tanzania.
●YieldUganda:Sources high quality, traceable food products for local and export markets.
The 12 will be taken through business model canvassing, customer hypothesis testing, financial modeling, partnership and customer development, and investor engagement resulting into a pitch day to investors where the two winners will be selected to receive US$50,000 in funding.
“We have been truly impressed with the quality of applications received this year,” John Mulqueen, Financial Associate at Village Capital said in a statement. “We are very excited to get started with our programme, and get down to work. We look forward to building and shaping the innovative solutions our startups are creating, and we believe their work will truly unlock the value of East Africa’s agricultural sector.”