Cchub, Google admits 9 startups to Fintech Incubation Program

Co-Creation Hub, in collaboration with Google, Ministry of ICT and Innovation Rwanda, and Mojaloop Foundation is excited to announce the nine startups selected for the Fintech Incubation Programme.

The Fintech Innovation Project consists of the Fintech Incubation Programme and other developmental programmes.

The programme is part of the ongoing efforts to turn Rwanda into the Fintech hub of Africa with Mojaloop as the national payments switch. Mojaloop was designed to provide a reference model for payment interoperability that can be used to overcome barriers that have slowed the spread of digital financial services.

Whole, adapted, or as a blueprint – the Mojaloop Foundation’s open-source software can be used by organisations to build interoperable, digital payment systems that enable seamless, affordable financial services between individual users, banks, government entities, merchants, mobile network operators, providers, and technology companies – connecting the underserved with the emerging digital economy.

The Fintech Incubation programme aligns with Rwanda’s ambition to drive inclusive economic development by leveraging technology.

After a thorough review process, the following nine startups were selected to join the programme:

KudiBooks: is a payment and accounting software for non-finance and non-accounting professionals targeting SMEs across Africa. They help users send and receive payments from their preferred financial institution within Kudibooks.
Food Bundles: is leveraging digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce. The platform helps farmers participate in e-commerce, get paid on their mobile money, and more!
Quiqpay: is powering digital technology to improve market links for smallholder farmers and meet the growing demand for fresh food produce. The platform helps farmers participate in e-commerce, get paid on their mobile money, and more!
Bafana.io: This amazing startup is giving over 1200 African artists and creatives a personal page where they can easily share their work and a digital wallet to collect tips/payments from their fans around the world.
Uplus Mutual Partners (Uplus): is a digital group financing platform where people can efficiently raise funds and savings with their family, friends, and colleagues.
PesaChoice: is a financial technology company that focuses on data-based lending. The startup offers short term loans without the requirement of collateral.
CentWise: aims to unlock financial access for micro traders such as street vendors and hawkers by building alternative collateral products. The company converts financial data into bankable profile insights.
PayingTone: is a marketplace that provides ecologically trackable products and services on credit. The platform brings a digital product passport technology to enable a gamified ecological footprint tracker for recurring consumption customers.
Exuus: is a FinTech company working towards achieving universal financial inclusion for both the unserved and underserved through technology. The company’s flagship product SAVE is a digital & inclusive wallet that allows users to manage both their savings (individually and/or in saving groups) and spendings.

Co-creation Hub (CcHUB) launched Nigeria’s first open living lab for technologists, entrepreneurs, tech companies, investors and hackers in 2010 to accelerate the application of social capital and technology for economic prosperity.

Related: 15 global startup accelerators accepting Nigerian startups

The hub has since expanded to include an umbrella of pan-African innovation enablers that includes the CcHUB Design Lab in Rwanda iHub and eLimu in Kenya, Growth Capital by CcHUB and CcHub Syndicate.

Over the next three months, CcHUB will be supporting the 9 selected startups to achieve product stability and scalability, market readiness and investment.

They will be able to leverage mentorship from industry and domain experts while taking advantage of Google products and Mojaloop. This first cohort of the program will conclude with a demo day in July, 2022 where the startups will present to investors through the CcHUB syndicate.

Register here to receive first-hand information and unrestricted access to any of the events (demo day, showcase, etc) that will take place during the programme.

Also read: What are startup accelerators?