The 9th cohort of the Catalyst Fund Inclusive Fintech program has been announced by Catalyst Fund, a global fintech accelerator managed by BFA Global.
Over the following two cohorts, it will investigate the role of digital finance in promoting climate resilience with a limited group of firms.
“At PayPal, we think that financial technology can assist disadvantaged individuals and communities develop resilience to climate-related calamities and exploit economic possibilities in the global climate transition,” says Franz Paasche, Chief Corporate Affairs Officer at PayPal.
“We are proud to partner with Catalyst Fund to support these innovative startups at the forefront of developing new tools and technologies focused on the intersection of financial inclusion and climate resilience,” he concludes
Catalyst Fund has a history of investing in African companies in Nigeria, Kenya, and South Africa through its Inclusive Fintech program, with savings and investment platform Cowrywise being the first Nigerian firm in its accelerator portfolio.
In 2020, JP Morgan and UK Aid will invest $15 million in the accelerator to support 30 fintech businesses in Africa, Asia, and Latin America. This rise was to be applied over the next three years.
This batch has accepted six financial startups. HealthDart from South Africa, Kazi from Kenya, Crop2Cash from Nigeria, Ohm Mobility and PocketFin from India, and Verqor from Mexico are among them.
People or smallholder farmers in low-income regions can use all six fintech to get financial services.
Anthemis, Quona Capital, Better Tomorrow Ventures, Flourish Ventures, Accion Venture Lab, and Gray Ghost Ventures were all authorized by Catalyst Fund’s Investor Advisory Committee (IAC).