The global inclusive technology accelerator Catalyst Fund, administered by BFA Global, announce that the FSD Africa will invest $3,5 million to bolster the Fund's presence in Africa to become the premier accelerator and pre-seed impact fund for emerging market entrepreneurs.
With the support of FSD Africa, the Catalyst Fund will invest in and provide hands-on support to leverage high-impact startups that improve the resilience of underserved and climate-vulnerable communities, with the aim of supporting 40 pre-seed impact ventures across Africa.
This investment will also allow FSD Africa to continue building strong innovation ecosystems with investor presence, capacity building networking and innovative corporate projects to unlock capital, attract talent and share knowledge on fintech solutions tailored to the needs of various regions of the continent.
"At FSD Africa, we believe that a strong, fair and affordable financial system is crucial to a sustainable future for African people and their environment. In particular, we believe that finance can play an important role in tackling climate vulnerability and that by harnessing the power of fintech innovation, we can help tackle market barriers to build much-needed climate resilience solutions. Our partnership with the Catalyst Fund will spur innovation by investing in and supporting entrepreneurs while helping to influence and expand the investment pool for this space.“, said Juliet Munro, Digital Economy Director of FSD Africa.
To date, the Catalyst Fund has supported 61 startups in emerging markets that together have raised more than $573 million in funding. follow-on and reached more than 13,2 million low-income customers. The next class of fund-funded startups will feature fintech solutions that build resilience in underserved and climate-vulnerable communities across the African continent.
This could include fintech and insurtech solutions, agtech, carbon finance, water management and other key sectors for building resilience and climate adaptation.
You can submit your startup application to the fund by clicking on here.
