Two firms from Nigeria chosen for SOSV’s Orbit Startups program, received $180k each

The 10 firms selected for its initial cohort by Orbit Startups, a new initiative from US venture capital company SOSV, including two from Nigeria.

Orbit combines the already-existing SOSV programs Chinaccelerator and MOX and reflects their recent geographic expansion into Southeast and South Asia, the Middle East, Africa, and Latin America.

GetFundedAfrica, a platform that uses media and technology to assist entrepreneurs throughout Africa in finding funding, and Kredi Bank, a full-service digital bank creating a one-stop-shop for digital financial services in Africa, are the two Nigerian firms that were chosen. The other chosen startups were from Singapore, Pakistan, and India.

With access to a comprehensive program that promotes their expansion in emerging and frontier markets, the entrepreneurs have each received the initial capital of roughly $180,000.

“We are eager to scale breakthrough startups from around the world across emerging and frontier markets, where there are more inefficiencies, fewer legacy industries, and the most opportunities for aggressive growth,” said William Bao Bean, general partner at SOSV and managing director of Orbit Startups.

“Orbit selects tech players that can impact millions of lives at once – startups that are solving monumental problems in healthcare, education, finance, media and logistics; and startups that are future-proofing the local economy through digitalisation.”