Maelis Carraro - Afrikan Heroes

International Corporates Form A Circle To Partner With Startups In Africa

June 19, 2021

The Catalyst Fund, a Nairobi-based business accelerator administered by BFA Global, has announced the opening of its Circle of Corporate Innovators on June 15, 2021. The Circle of Corporate Innovators is a global network of organizations that share Catalyst Fund’s aim of building inclusive technology, including major banks, telecommunications firms, and logistics suppliers. One of the main features of the service is to enable startups to partner with corporates in order to assist them expand while also giving market leaders access to up-to-date data.

*Maelis Carraro, Managing Director of Catalyst Fund*

“Corporate leaders have a significant role to play in facilitating the growth of inclusive tech in our markets. They bring a deep understanding of the market and its nuances, as well as a wide user base with whom they’ve already built trust. These industry leaders, however, stand to benefit from the agility, innovation, and flexibility offered by startup solutions, which can enable them to provide more value to their customers and accelerate their journey towards digital innovation,” said Maelis Carraro, Managing Director of Catalyst Fund.

Here Is What You Need To Know

The network seeks to enhance its capacity to source, assess, test and deliver innovations to customers in Kenya, Nigeria, Ghana, SA, Mexico and India.

Fidelity Bank, Ecobank, Sterling Bank, Access Bank, and the VFD Group are among the founding members, and startups benefit from specialized services such as access to vetted, de-risked startup partners from the Catalyst Fund portfolio, global technology industry landscaping, innovation strategy development, custom toolkits to help strengthen and streamline startup partnership processes, and deep dive startup partner interviews; knowledge sharing roundtables with other leading global corporate innovators; support in developing effective, de-risked partnerships with Catalyst Fund startups

“The goal of the Circle of Corporate Innovators is to actively facilitate and de-risk these partnerships, equipping both innovators and startups with the tools and expert support they need to better discover technical and commercial synergies while sharing learnings and insights with the wider industry. We’re excited to welcome strong innovators like Fidelity Bank, Ecobank, Sterling Bank, Access Bank, and the VFD Group as pioneer members of the Circle.”
Read also:How Three African Blockchain Startups Secured UNICEF Grant

Both parties gain from successful collaborations. Unilever and Sokowatch, a Catalyst Fund portfolio firm in East Africa, teamed together to reach millions of new customers through Sokowatch’s informal retail network. Bamba is partnering with BBVA to provide 8000 domestic workers in Mexico with bank accounts and other financial goods. Over 7000 life insurance claims have been handled thanks to Mobilife’s cooperation with Standard Bank SA.

“As a proprietary investment firm with a very significant commitment to improving financial services delivery across Africa, partnering with Catalyst Fund is an opportunity to accelerate our vision of reaching the last mile with practical and empowering solutions. We are excited by the sheer possibilities that lay ahead,” said Gbenga Omolokun, Executive Director Group Risk, Compliance & Technology at VFD Group Plc.
Read also:National Bank Of Egypt Adopts RippleNet Blockchain Technology

“At Ecobank, innovation is a growth engine and at the heart of everything we do. We are committed to building and working with the entrepreneurship ecosystem across Africa to drive this innovation. The partnership with Catalyst Fund is a major step in building a framework for a productive engagement with startups and other key stakeholders to make this a success”, said Nvalaye Kourouma, Chief Digital Officer at Ecobank.

Catalyst Fund provides diagnostic seminars to Circle members, fosters collaborations with portfolio businesses, and advises on partnership initiatives. The Catalyst Fund’s ecosystem acceleration programs include a Circle of Investors with over 80 members from throughout the world. Interested parties from Nigeria, Ghana, Kenya, South Africa, Mexico, and India are encouraged to contact the team to discuss partnership possibilities.

For further information, contact Thea Sokolowski, Catalyst Fund’s Head of Marketing and Communications.

partner startups in Africa partner startups in Africa

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write

Six African Startups to Benefit From Catalyst Fund’s Inclusive Fintech Cohort

February 1, 2021

Maelis Carraro, Catalyst Fund’s managing director

Six select Africa startups stands to benefit from the eighth cohort of the inclusive fintech accelerator launched by Catalyst Fund. The project will provide grant funding and support to six fintech solutions from Kenya, Nigeria and South Africa. Catalyst Fund was launched six years ago and managed by BFA Global. It is a global accelerator that supports inclusive fintech innovators and facilitates the growth of innovation ecosystems in emerging markets. Catalyst Fund’s flagship inclusive fintech accelerator is supported by the UK Foreign, Commonwealth and Development Office (FCDO) and JPMorgan Chase & Co., and fiscally sponsored by Rockefeller Philanthropy Advisors.

Six African fintech startups have been selected to take part in the programme, including three from Kenya. They are Lami, which provides an insurance platform and API that enables more individuals and businesses to access insurance coverage; Koa, which enables users of existing tech solutions to more easily save and invest; and Power, which enables gig and salaried workers to easily access earned wages, loans, insurance, payments and contribute to savings via partner banks.

Nigeria’s Indicina which facilitates lending for individuals and small businesses through AI-powered digital credit infrastructure and credit underwriting services was also selected. Same as Ghana’s Jetstream, which enables businesses to efficiently and affordably export goods across borders and access trade financing; and South Africa’s Kandua, which empowers skilled home service professionals with greater access to customers, professional tools and digital financial services.

The startups, five of which have female founders or co-founders, will join Catalyst Fund’s existing portfolio of 37 companies and receive GBP80,000 (US$110,000) in grant capital, bespoke and expert-led venture building support from BFA Global, and one-on-one connections with investors and corporate innovators that can help them scale.

“Today, fintech is rapidly evolving to the point where it’s no longer a standalone vertical. Embedded finance offerings have the potential to significantly improve the value of products in adjacent sectors, while finding new ways to better reach and serve low-income individuals via touchpoints they already know and trust,” said Maelis Carraro, Catalyst Fund’s managing director.

“We’re particularly excited about the solutions put forward by this innovative cohort of companies, many of whom are led or co-led by incredible women leaders. They have the potential to really expand the reach of digital financial services by testing new business models and by building the tech infrastructure layers needed to embed financial products in other services.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Catalyst Fund Launches A New $4.3m Accelerator Programme For Ecommerce Startups In Ghana

October 20, 2020

Good news for ecommerce startups in Ghana. A new partnership between Catalyst Fund, Mastercard Foundation and MEST has birthed a new accelerator programme, known as Inclusive Digital Accelerator programme. This is Catalsyst Fund’s first expansion of its flagship inclusive fintech programme outside fintech.

*Catalyst Fund managing director Maelis Carraro*

“We’re thrilled to announce the first Catalyst Fund expansion programme, which builds on lessons learned supporting inclusive fintech companies in emerging markets over the last five years. Through the Inclusive Digital Commerce Accelerator, we aim to impact informal MSEs in Ghana who, particularly in light of the COVID-19 crisis, lack access to a financial safety net and find their livelihoods impacted when physical commerce suffers,” said Catalyst Fund managing director Maelis Carraro.

“Along with support and deep local expertise from Mastercard Foundation and MEST, we aim to enable companies who are already tackling distinct problems in the digital commerce space to better reach informal MSEs so they can leverage digital rails to improve their financial resilience for the future.”

Here Is What You Need To Know

The accelerator aims to improve the livelihoods and financial resilience of informal micro and small enterprises (MSEs) in Ghana — who have been hardest hit by the impact of the COVID-19 economic crisis — by scaling digital commerce companies. The accelerator will select innovative companies that can enable informal MSEs to reap the benefits of digital commerce.
Six digital commerce companies will he selected to be scaled over the next two years, leveraging Catalyst Fund’s model to combine flexible grant capital of up to US$120,000, expert-led venture acceleration support, portfolio meet-ups and curated cohort-based workshop sessions, and connections with Catalyst Fund’s growing global Circle of Investors and Circle of Corporate Innovators

“The opportunity to partner with an experienced organisation like Catalyst Fund, with support from the Mastercard Foundation, is equal parts exciting and aligned with MEST’s scale strategy in Ghana, and in time, beyond,” said MEST strategic director Greg Coussa.

“Historically, MEST has focused on early-stage startup support and creation through our training programme, seed fund, and incubator programmes. The Inclusive Digital Commerce Accelerator gives us an opportunity to work with Catalyst Fund to support scale-stage ventures who are strategically seeking to better reach and serve informal MSEs, leveraging our local knowledge, networks, and expertise.”

Catalyst Fund, which is managed by BFA Global, said the Inclusive Digital Commerce Accelerator was aimed at scaling digital commerce companies in Ghana, and would officially launch at a virtual event on November 4.
Country partner MEST brings deep market knowledge, leveraging more than 12 years of experience training and incubating tech entrepreneurs on the ground in Ghana.

What Startups Is The Fund Looking For?

Preference for companies with current or proven desire to serve informal MSEs.
Company has already raised a minimum of $100K from investors or is revenue positive, and serving at least 500 customers.
Company has a product in market and is in the scaling stage
Company has 6–12 months of runway.
Company is Ghana-based (or entering the Ghanaian market).
Company is offering solutions across the digital commerce value chain.
Company primarily serves informal MSEs and workers between the ages of 18–35.
Company can contribute to the goal of reaching 25,000 additional MSEs within 2 years.

How Startups In Ghana May Apply

Eligible startups interested should click here to express their interests.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer