MIT Fintech Conference startup pitch competition won by Kenyan startup Money254

Money254, a Kenyan business, has been declared the grand prize winner of the Massachusetts Institute of Technology (MIT) Fintech Conference’s 2022 Fintech Startup Pitch Competition.

Money254 is a financial services comparison platform that was launched in April 2021 to make it simpler for people to identify, compare, and apply for financial products that meet their requirements and qualifications.

Money254 users can search and apply for financial products such as personal loans, business loans, and savings accounts from a variety of leading banks, microfinance institutions, and digital apps – all from the comfort of their own homes – thanks to a combination of independent financial product research and partnerships with leading institutions.

The MIT Fintech Conference is one of the world’s largest student-led conferences, attracting over 1,000 attendees from over 60 countries to discuss financial technology innovation and disruption. Money254 was picked as one of eight firms to pitch at the event and was ultimately named the winner, receiving a reward of US $30,000.

Lorcan O Cathain, the startup’s CEO and co-founder, said the award was a boost to the company’s goal of improving openness in the financial services sector.

“At Money254 we’re building a central place for Kenyans to learn about, manage and move their money between the financial institutions and products that make the most sense for them. We’re deeply humbled to receive this honour and excited for what the future holds for the company,” he said.

Enza Capital, Perivoli Innovations, Sherpa Capital, and Ground Squirrel Ventures are among the foreign and local investors who have funded Money254.