VISA, the global payment card network, has unveiled its 2025 Accelerator Program designed to drive innovation and support the growth of African fintech startups.
The program is now accepting applications, offering startups a three-month initiative focused on mentorship, access to technological resources, and funding opportunities.
As reported by BitKE in 2023, VISA launched the accelerator as part of its commitment to invest $1 billion in Africa’s digital transformation with the goal of offering expertise, connections, technology, and investment funding to enable the growth and success of fintech startups across the continent.
Visa Launches Visa Africa Fintech Accelerator Program to Empower Startups in Africa
Starting from July 2023, fintech startups from across Africa can apply for the programhttps://t.co/4U731dTvNC @VisaNews pic.twitter.com/oonC2NvLbP
— BitKE (@BitcoinKE) June 21, 2023
Program Benefits
- Participants are expected to gain access to over $200,000 worth of product perks and discounts from more than 100 vendors, including credits for Amazon Web Services (AWS).
- They will engage in fintech-specific training modules, covering topics such as product design, marketing, finance, and sales.
- Gain entry to one-on-one mentoring sessions with industry experts and founders, both from Africa and globally, aiming to address unique challenges faced by startups.
- The program features specialized training modules customized for the payments and fintech industries, providing participants with comprehensive insights into industry best practices.
- Startups will also gain hands-on experience with VISA’s services through access to its developer portal.
The program concludes with a Demo Day, allowing startups to present their solutions to a panel of prospective investors, including VISA, Plug and Play, and an extensive venture capital network.
Additionally, participants can establish strategic partnerships with industry leaders opening avenues for scaling their operations through collaboration.
Notably, impressive startups have the opportunity to receive strategic investment from the fintech giant as did:
- Oze
- WorkPay
- OkHi, and
- ORDA
who were graduates of the program’s first cohort.
VISA announces investments in 4 Fintech startups across Africa – BitKE https://t.co/kOGLI9lEM4
— Fintech Bits (@fintechbite) November 8, 2024
In the inaugural cohort, Nigerian startups dominated the list followed by Ghana, Kenya, Morocco, South Africa, Egypt, Uganda, Zambia, and Tunisia. Out of 23 African startups selected for the Inaugural VISA Fintech Accelerator, one was a crypto startup.
LIST | Out of 23 African Startups Selected for the Inaugural VISA Fintech Accelerator, One Enables Crypto
Nigerian startups dominated the cohort of selected startups, followed by Ghana, Kenya, Morocco, South Africa, Egypt, Uganda, Zambia, and Tunisia.https://t.co/j3xNEq88at… pic.twitter.com/Byg4QoQ6Sm
— BitKE (@BitcoinKE) November 16, 2023
Eligibility
- The program targets startups at the Seed to Series A stages, with a minimum viable product (MVP) already developed.
- The ideal candidates are startups with market-ready solutions aligned with the program’s themes, a proven dedication to driving growth in Africa, and a demonstrated level of market traction.
The application process consists of two stages:
- The first stage involves evaluating the alignment of startups with the program’s objectives, their market traction, and the credentials of their founding teams.
- Shortlisted candidates will proceed to virtual interviews, after which finalists will be notified prior to the program’s commencement.
Applications must be submitted by March 15 2025. Interested parties can apply on the VISA Accelerator Program website via this link.
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