Visa spotlights 22 African fintech startups as alumni valuation hits $1.3 billion
Visa has unveiled the latest group of high-growth startups graduating from its Africa Fintech Accelerator program, showcasing 22 companies that are set to reshape the continent’s digital commerce landscape.
The Demo Day event, held in Cape Town on December 1, marked the culmination of an intensive three-month curriculum designed to scale innovative solutions across Africa.
The graduating class, known as Cohort 4, represents a diverse cross-section of the continent’s innovation ecosystem. The group includes startups headquartered in 12 African countries with operations spanning 31 markets. A defining feature of this year’s cohort is the significant representation of women in leadership; eight of the startups were founded by women, and 90 percent of the participating teams feature female leadership.
With the conclusion of this round, Visa has now accelerated a total of 86 African fintech startups. Collectively, these alumni hold a cumulative valuation of USD 1.3 billion, a testament to the program’s ability to identify and nurture commercially viable enterprises that go on to secure follow-on investment and expand into new territories.
This year’s program was bolstered by deepened collaborations with three key corporate partners: Bank of Africa, Onafriq, and First Bank of Nigeria Ltd. These industry giants played a pivotal role in the accelerator, providing the cohort with market insights, operational expertise, and access to broad networks.
The involvement of these partners is designed to move beyond mentorship, opening pathways for commercial partnerships, proof-of-concept engagements, and potential investment. By connecting startups with established financial institutions, the program aims to unlock collaborative growth opportunities across the African financial ecosystem.
The accelerator’s momentum aligns with broader data suggesting Africa’s fintech sector is entering a period of rapid expansion.
According to McKinsey, the sector’s trajectory highlights significant commercial potential:
“Africa’s fintech revenues could reach US$47 billion by 2028, rising from approximately US$10 billion in 2023.”
Furthermore, data from the European Investment Bank reinforces this strong investor confidence, noting that the ecosystem is expanding at pace:
“The number of active fintech companies nearly tripled between 2020 and early 2024, increasing from 450 to 1,263 firms.”
Chad Pollock, Vice President and General Manager for Visa East Africa, highlighted the energy and ingenuity driving this transformation.
“Africa’s fintech landscape continues to expand at extraordinary speed, powered by founders solving real-world challenges and reshaping the future of digital commerce,” said Pollock.
“The startups in Cohort 4 truly capture the energy and ingenuity driving Africa’s fintech transformation. We are proud to stand behind their journey and eager to see the new possibilities they unlock as they scale across the continent.”
Through the program, participating startups received specialized support in product design, marketing, finance, and sales, alongside one-on-one mentorship. They now leave the accelerator with structured pathways to global partnerships and investment opportunities through Visa’s extensive network.
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