Seven African businesses have been chosen to participate in the newest Techstars Toronto accelerator, gaining access to mentoring, $120,000 in cash, and the chance to obtain further funding during demo day.
Mentorship, financing, and access to the Techstars network are all part of the 13-week Techstars Toronto accelerator programme. It all comes to a head with a demo day, where selected businesses pitch to a limited group of investors. A total of $120,000 in equity investment is also available to startups.
A total of six African startups have now been confirmed as part of the accelerator’s 12-strong fifth batch. Three of them are Nigerian companies: Lenco, an e-commerce checkout service, and Healthtracka, a digital health platform.
Other African-based startups in the cohort include Duhqa, a Kenyan last-mile delivery service, Fleri, a Ghanaian healthcare payments and insurance provider, and Payday, a Rwandan international payments platform.
“Joining Techstars will be a game-changer for us. This is an opportunity to work with and learn from outstanding mentors, as well as to leverage their experience, skills, and network to create a platform where all Africans, regardless of location, can enjoy financial inclusion,” said Payday’s chief executive officer (CEO) Favour Ori.
