AlphaCode, South Africa’s premium fintech and startup community has selected eight fintech startups to take part in the AlphaCode Incubate programme.
Of the 16 startups that participated in the pitch event on October 18, AlphaCode – a club established by Rand Merchant Investment (RMI) Holdings – selected 8 to complete a 12-month tailored financial services programme.
The 8 winners will also benefit from R1 million grant funding each, office space at AlphaCode’s exclusive Sandton co-working space, mentorship, monthly expert-led sessions and comprehensive business support services and networks.
The 8 winning startups are savings app Akiba Digital, USSD insurance solution iSpani Group, rental finance platform Jamii, invoice financing platform Nisa Finance, micro-payments startup Pago, mobile savings wallet Prospa, P2P insurance service SELFsure, and self-service credit life insurance platform Yalu.
Dominique Collett, Head of AlphaCode had this to say, “Some have experienced exponential growth and we have been amazed at the level of traction they have received locally and internationally.
“The intention behind AlphaCode’s Explore, Incubate and Accelerate programmes is for RMI to discover the next OUTsurance or Discovery; we want to identify, partner and grow the future of financial services in South Africa.”