Seven Africa-based startups have been selected to take part in the latest edition of the Techstars Toronto accelerator, securing access to mentorship, US$120,000 in funding and the opportunity to secure further investment at demo day.
The 13-week Techstars Toronto accelerator programme is designed to provide mentorship, funding and access to the Techstars network. It culminates with a demo day at which selected startups will pitch to a carefully curated group of investors. Startups also secure US$120,000 in equity investment.
Disrupt Africa reported earlier this week Nigerian prop-tech startup Rent Small Small had been selected for the fifth edition of the programme, which kicks off this month, after fellow Nigerian startups TalentQL and Plentywaka (now Treepz) took part in the fourth version of the programme earlier this year.
It has now been confirmed that a further six Africa-based startup are part of the 12-strong cohort for the fifth edition of the accelerator. Three of those are Nigerian, namely business management platform Lenco, e-commerce checkout service OurPass, and digital health platform Healthtracka.
Kenyan last mile distribution service Duhqa, Ghanaian healthcare payments and insurance service Fleri, and Rwandan foreign payments platform Payday are the other Africa-based companies involved in a cohort that also includes the UK-based but Africa-focused remittances service Kyshi.
“Joining Techstars will be a game changer for us. This is an opportunity to work with and learn from outstanding mentors, as well as to leverage their experience, skills, and network to create a platform where all Africans, regardless of location, can enjoy financial inclusion,” said Payday chief executive officer (CEO) Favour Ori.
