Three Kenyan startups are among the six selected to join the tenth cohort of the Catalyst Fund fintech accelerator.
The accelerator selects startups that are building solutions designed to improve the resilience of underserved and climate-vulnerable communities in emerging markets.
The Kenyan startups are AquaRech, a platform for fish farmers to source quality feed, reduce growth cycles by monitoring via sensor technology, find new routes to market, and access credit to enable growth, TopUp Mama, an online B2B platform for restaurants to purchase all inventory required at wholesale prices, including perishable goods requiring an adapted (cold) supply chain, and access working capital to grow their business and Tulix, a digital payment wallet to enhance visibility of funds and collaboration between African migrants and their beneficiaries back home
Other startups joining the Catalyst Fund fintech accelerator are Nigeria’s ColdHubs, a “plug and play” modular, solar-powered walk-in cold room, for 24/7 off-grid storage and preservation of perishable foods, enabled through digital payments, Mexico’s Koltin which offers a digital health insurance solutions and preventative care for the region’s growing senior population, Mujer Financiera from Argentina and Mexico which offers financial wellness with a multi-tiered approach to build the financial literacy, financial health, and resilience of underserved women.
These companies will join Catalyst Fund’s existing portfolio of 55 companies and receive catalytic capital, bespoke and expert-led venture building support from BFA Global, and direct connections with investors, corporate innovators and talent networks that can help them scale. Catalyst Fund will continue to explore the opportunity for inclusive fintech innovators to enhance the resilience of vulnerable populations.
“Low-income and underserved communities in emerging markets will bear the brunt of the climate crisis, yet contributed the least to it. The impacts of climate risks are predicted to be expansive, affecting communities in wide ranging and unforeseen ways. It’s fundamental to invest in solutions that build resilience to shocks and ensure these solutions are reaching the most vulnerable,” said Maelis Carraro, Managing Director of Catalyst Fund. “We have explored models that push the frontier of current thinking around resilience-building for climate vulnerable people, and we are energized to explore how fintech innovation can help these populations, by supporting pioneering entrepreneurs in Kenya, Nigeria and Mexico. We look forward to exploring this innovation frontier for fintech with the invaluable support of JPMorgan Chase, FCDO, and PayPal.”
Catalyst Fund, managed by BFA Global, is supported by the UK Foreign, Commonwealth and Development Office (FCDO), JPMorgan Chase & Co., and PayPal, and fiscally sponsored by Rockefeller Philanthropy Advisors. Catalyst Fund has recently explored the role of fintech innovation in increasing the resilience of climate-vulnerable populations, and has selected its latest cohort based on these insights.
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