Village Capital FinTech for Agriculture: East Africa 2015 cohort announced Sucessful Farming Made Possible
FinTech for Ag FB Banner
Share with others, Learn from others

12 startups selected to participate in the third Village Capital FinTech for Agriculture: East
Africa accelerator programme, launched today. Two ventures to secure US$50,000 in
funding.
NAIROBI VillageCapital today launched its FinTech for Agriculture: East Africa 2015
accelerator programme at a launch event in Nairobi, revealing the cohort of 12 startups
selected to participate in the programme.
The three month accelerator programme aims to unlock innovations that increase access to
financial services for smallholder farmers. Village Capital has precommitted US$100,000 in
funding to be awarded to two companies in the cohort.
This year the Village Capital flagship accelerator programme returns to East Africa for the
third time; with over 125 applications received for the 2015 programme from nine African
countries. Village Capital’s investment committee selected the 12 most outstanding startups
on the basis of how their ideas have the potential to increase incomes for smallholder farmers
by improving their access to financial services.
The 12 startup firms selected to join the three month programme are:

  • Atikus Insurance : Expands access to credit by increasing the capacity of MSME
    lenders via reimagined insurance and technology risk solutions.
    ● Chamasoft: Web and mobile app to automate record keeping for investment groups.
    ● Ensibuuko : Builds ICT solutions to enable enterprises deliver financial services
    efficiently and to scale rapidly, reaching underserved communities.
    ● FarmDrive: Transforming how smallholder farmers access financial services.
    ● Farmerline: Provides accurate and timely agricultural information to farmers and also
    provides technology to stakeholders to work better.
    ● MShamba:
    Interactive platform for smallholder farmers and traders.
    ● Mobipay: Technology solutions to various economic sectors to drive commerce and
    trade.
    ● nanoCredit Technologies: Lending and derisking
    engines, providing structured
    digital finance for small farms.
    ● Rangerland Solutions: Online livestock marketing platform that directly connects
    buyers and sellers, reducing marketing costs.
    ● Redcore Interactive: remit.ug is a platform for online international money transfers to
    mobile money in Africa.
    ● SmartMoney: Freeofcharge
    branchless mobile banking to unbanked rural
    communities in Uganda and Tanzania.
    ● YieldUganda: Sources high quality, traceable food products for local and export
    markets.
    As of today the chosen startups will commence the three month programme focusing on
    business model canvassing, customer hypothesis testing, financial modeling, partnership and
    customer development, and investor engagement. The cohort will present to potential
    partners and customers at a pitch day, as well as pitch to investors at an investor demo day.
    Village Capital has precommitted
    US$100,000 in investment to be shared by two startups in
    the cohort. The winners of the funding will be chosen by the accelerator participants at the
    end of the programme in June. Each of the two selected companies will receive US$50,000
    in funding.
    “Thanks to the pool of talented and innovative startups that applied for a place on our
    programme from across East Africa, it was a challenging process to select the final 12. We
    have been truly impressed with the quality of applications received this year,” John Mulqueen,
    Financial Associate at Village Capital said, speaking at the launch event.
    “We are very excited to get started with our programme, and get down to work. We look
    forward to building and shaping the innovative solutions our startups are creating, and we
    believe their work will truly unlock the value of East Africa’s agricultural sector,” Mulqueen
    said.
    “The Village Capital Fintech for Agriculture programme is great for remit.ug because it
    provides us and other entrepreneurs with an opportunity to grow, and to help a very critical
    group of people the
    financially underserved. We are excited about networking and sharing
    with other entrepreneurs in the space who are facing the same challenges,” said Stone
    Atwine, chief executive officer (CEO) and cofounder
    of Recore International, one of the
    selected startups.
    “Through enabling smallholder farmers to use financial technologies, Africa’s agripotential
    will
    surely be unlocked. We at Mobipay are very excited to be involved in the Village Capital
    programme, which will be a key player in realising Africa’s potential,” said Charles Kiinde,
    founder of Mobipay.
    Programme graduates are expected to increase their revenue growth by 4.5 times, and
    distribute goods and/or services to 200,000 customers within the two years following
    completion of the accelerator. Village Capital estimates the companies forming the cohort will
    create 200 jobs over the next two years in East Africa, with an estimated 60% of jobs going to
    individuals living below the poverty line.
    The accelerator will see the 12 startups participate in three workshops to be held in Nairobi,
    Kenya, on April 1518,
    May 1922
    and June 2225.
    The two startups to receive the funding
    will be announced at the end of June.
    About Village Capital
    Village Capital sources, trains, and invests in earlystage
    ventures solving major social
    problems through profitable business solutions. We put investors facetoface
    with the best
    entrepreneurs in agriculture, energy, education, health, and financial inclusion, and in the last
    five years, we have been the most active small business development organization
    worldwide. Since 2009, our awardwinning
    peerselection
    investment model has supported
    450 ventures in 30 programs across 9 countries. Our alumni have created 6,000 jobs, served
    6 million customers, and raised more than $100 million in followon
    capital to scale their
    businesses and impact, and 96% of our alumni would recommend our programs to other
    entrepreneurs
Eric K. (Farming Afrika Admin)
Eric K. (Farming Afrika Admin)
I am a farmer and business man, I love travelling, exploring and meeting new people. I think I was born a farmer. I want to make farming great again and tell the story.So help me God!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>