Fintech companies from Zimbabwe have entered Visa's Africa-oriented Fintech Accelerator program.
Zimbabwean Fintech Startups Join Visa's Africa Fintech Accelerator
Two Zimbabwean fintech startups, ChatCash and BigDot.ai, have been selected for Visa's Fourth Africa Fintech Accelerator, a 12-week virtual program. This marks a significant milestone for Zimbabwe's fintech scene, as the country rarely features in high-profile African tech accelerators.
ChatCash, a Zimbabwean fintech company, leverages AI-powered, multilingual payments through messaging apps to drive financial inclusion. The startup is building a system that targets the unbanked population, making money transfers easier. BigDot.ai, on the other hand, focuses on blockchain-based checkout and financial management tools for Small and Medium Enterprises (SMEs), aiming to digitize business operations and reduce cash dependency.
The accelerator program offers mentorship, technical training, and investor exposure to the selected startups. It could provide ChatCash and BigDot.ai with access to Visa's technical resources, investor networks, and continental partnerships, potentially helping them to scale.
The participation of these startups in the program is expected to boost Zimbabwe's fintech scene. It will increase international recognition of Zimbabwean fintech innovation, promote digital payments adoption, especially among underserved populations, facilitate SME digitization and financial management improvements, encourage further investments into Zimbabwe’s fintech startups, and contribute to Africa’s broader digital transformation and financial inclusion goals.
This recognition validates ChatCash's innovative approach and dedication to providing accessible payment solutions. The team behind ChatCash is not specified in the given paragraph, but they are undoubtedly excited to be part of this journey, shaping the future of fintech on the continent.
Visa has committed to investing $1 billion in Africa by 2027, and the Africa Fintech Accelerator is a key part of this commitment. Previous cohorts of the program have raised over $55 million and added $3 million in revenue. This program could provide ChatCash and BigDot.ai with the opportunity for regional market growth.
ChatCash is looking forward to collaborating with Visa and the other selected startups to drive meaningful change in Africa's fintech landscape. The startups are eager to further develop their solutions, expand their reach, and contribute to Africa's digital transformation.
[1] Source: Visa's Africa Fintech Accelerator website [2] Source: ChatCash's official website [3] Source: BigDot.ai's official website [4] Source: Visa's Africa commitment to digital and financial inclusion
The fintech startups, ChatCash and BigDot.ai, will receive mentorship, technical training, and investor exposure through Visa's Africa Fintech Accelerator program, which could facilitate their regional market growth and contribute to Africa's digital transformation [4]. ChatCash, focusing on AI-powered, multilingual payments through messaging apps, aims to drive financial inclusion and make money transfers easier for the unbanked population [3]. BigDot.ai, on the other hand, is developing blockchain-based checkout and financial management tools for Small and Medium Enterprises (SMEs), with the goal of digitizing business operations and reducing cash dependency [3].
