The Labs by ARM accelerator program has admitted five Nigerian fintech startups into its third cohort, which is planned to help the best post-MVP startups addressing the most difficult problems in the financial industry and enterprise.
Labs by ARM accelerator is a program run by Asset and Resource Management (ARM) and Ventures Platform that aims to get post-MVP fintech startups to product-market fit and help them gain more customers by providing them with funding, mentorship, and networks.
The five startups that were chosen are:
Pass, which is working to create the world’s fastest one-hour login and checkout system for digital commerce;
Bongalow, a platform that lets Africans all over the world to shop for low-cost home financing options from the comfort of their own homes;
Plumter is a company that provides instant multicurrency accounts for fast local and international banking.
Breeze, a payment system that provides Nigerians with the forex liquidity they need to exchange and transact internationally;
House Africa, a digital network that assists financial institutions and individuals in validating properties prior to investing in or buying them.
“I am very pleased with this cohort’s selection of startups and believe that, if they implement the program to the letter, these are the solutions that will transform the fintech and business solution space in Nigeria and its diaspora,” said Mohamed Felata, Ventures Platform’s programmes director.
The third iteration of the 12-week accelerator program started this month and will finish in June with a demo day.
Selected startups will participate in a series of events aimed at accelerating their growth and ensuring their investment readiness.
These startups will also receive up to $50,000 in equity capital, business consulting services, API and network access, as well as free and discounted services, among other things.
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