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SA’s Hello Paisa, The Sun Exchange win the 2016 Innotribe Fintech Startup Challenge for Africa

African startups win a $10,000  prize each and a chance to share their insights about innovation in Africa with FinTech experts from around the world. By Staff Writer

The Innotribe Startup Challenge attendees selected the three most promising FinTech companies during its second annual showcase for Africa. The event was held in Mauritius on Wednesday 18 May, in partnership with SWIFT’s African Regional Conference (ARC).

The three winners of the African Startup Challenge are:

  • Based in South Africa, Hello Paisa is a low cost international money transfer solution for remittances. “My experience at Innotribe has been invaluable. The quality of the coaching sessions has been extraordinary, and the lessons learnt will stay with me forever. To represent the best the African continent can offer in the FinTech space at Sibos is truly an honour and we are humbled”, says Ahmed Cassim, Managing Director, Hello Paisa
  • Also based in South Africa, The Sun Exchange is a peer-to-peer lending platform for investors to fund solar energy projects across the globe. “It has been pretty intense coaching for the past couple of days with pretty blunt and to the point feedback to help hone not only our pitches but identify the strengths and areas of innovation of our businesses. It is an honour and a privilege to be invited to present our international finance origination service to the Geneva audience, and demonstrate how borderless peer-to-peer lending holds the key to a cleaner and more lucrative future for not just Africa, but for the whole planet”, says Abraham Cambridge, Founder and CEO, The Sun Exchange
  • Based in Cameroon, WeCashUp has created a cross border mobile money platform, enabling users to make secure payments via their mobile phones all across Africa. “The Innotribe startup competition has been an infinitely unique experience. I’ve been challenged so much by the coaches and I learnt so much that I think my team and I received everything to become a world class startup. I recommend Innotribe to all the startups who want to put a dent in the universe like us”, says Cedric Atangana, CEO and Co-founder, WeCashUp

Winners of this year’s challenge received a $10,000 cash prize and invitations to attend Sibos, SWIFT’s annual global financial services conference, taking place from 26-29 September in Geneva.

The startups will have the opportunity to share the stage with FinTech experts, providing great insights on innovation happening across Africa to the financial industry at large.

The Mauritius showcase was the first regional showcase to be held in 2016. The next regional Startup Challenge will be held in Mexico City on 29 June during SWIFT’s Latin American Regional Conference.

“This year’s Innotribe Startup Challenge highlights the exciting developments across African FinTech and the range of different business sectors represented shows that innovation is not just focused in one area, The showcase at ARC is a wonderful opportunity for SWIFT and Innotribe to be part of this journey and we look forward to continuing our support for the three winners when they come to Sibos in Geneva later this year,”said Sido Bestani, head of Middle East, Turkey and Africa at SWIFT.

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