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Visa Investment In Four African FinTech: Visa is pushing in fresh funding into four startups that graduated from the first batch of its Visa Africa Fintech Accelerator program.
The company did not disclose the size of each investment but said it was part of its ongoing strategy to support digital innovation in Africa, helping drive fintech growth across the continent while bolstering financial inclusion and access.
Visa Investment In Four African FinTech
The four start-ups, operating across multiple African countries are:
- Oze, based in Ghana. They provide digital record-keeping tools and embedded finance products to SMEs, helping them manage transactions, access affordable capital, and grow their businesses. Additionally, the startup offers a Loan Management System (LMS) for financial institutions, featuring machine learning-based credit scoring to enhance lending decisions and expand access to credit for MSMEs.
- Workpay, a HR tech firm headquartered in Kenya. They offer a comprehensive cloud-based payroll and HR platform that manages the entire employee lifecycle, enabling payroll processing, time tracking, employee benefits administration, performance management and Employer of Record services in more than 35 countries across Africa.
- OkHi based in Nigeria is a smart addressing system that provides digital address verification, enabling businesses to collect, verify, and navigate to accurate addresses, thereby improving delivery efficiency and access to financial services.
- ORDA, a cloud-based restaurant software company digitizing over 1,500 restaurants across Nigeria, Kenya, and South Africa with tools for order processing, inventory management, and financial services to optimize operations and fuel growth.
Also Read: Visa Presents Payment Facilitator Certificate to Safaricom
About Visa Program
Visa Investment in Four African FinTech program lasts for three months and supports seed to Series A startups by providing them with mentorship, training, and opportunities for funding and partnerships, according to the release.
It was first launched in 2023 and is part of Visa’s pledge to invest $1 billion in the continent by 2027 to bolster its digital transformation.
“Visa Investment In Four African FinTech mark a substantial step for Visa — we are once again standing behind our commitment to innovation in Africa, helping to shape the future of digital payments alongside some of the brightest FinTech minds that the continent has to offer,” Godfrey Sullivan, senior vice president of products, partnerships and digital solutions for Visa CEMEA, said in the release.
“Visa sees each investment as a unique opportunity to drive financial access and inclusion, and we are proud to support these startups as they realize their vision for a more connected Africa.”
Visa said that additional investments and commercial partnerships with the program’s graduates are being finalized and will be announced soon.
The Visa Africa Fintech Accelerator program is also supported by Amazon Web Services (AWS), which offers free cloud services to cohort participants.
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