Wise Guys announced the first accelerator batch & the first close on Africa-focused fund
Startup Wise Guys, a European startup accelerator and investment fund, has announced the first batch of firms selected for its African B2B digital SaaS accelerator programme, as well as the first closing of its new Africa-focused fund.
Startup Wise Guys, based in Tallinn, Estonia, manages Milan-based SaaS accelerator programmes as well as Cosenza-based cybersecurity programmes. So far, the organisation has worked with over 500 entrepreneurs, made over 235 startup investments, witnessed five exits, and has a startup survival and success record of over 77%.
The nine selected firms, which include fintech, agritech, ed-tech, cleantech, e-health, and retail-tech, will each get a EUR65,000 (US$71,000) ticket in exchange for up to a 12% ownership share, as well as rigorous four-month mentorship. The shortlisted firms will also get the opportunity to pitch for up to EUR250,000 (US $275,000) in follow-on investment.
T40, an intercity transportation and logistics business, Nigenius, an online lesson plan and teaching platform, and Scrapays, an on-demand garbage management service, are three of the shortlisted startups from Nigeria. FloodGates, a digital identity business, and MoneyGram, a cross-border money transfer service Ghana is represented by FXKudi, while Kenya is represented by KIOTAPAY, a cloud-based property management services platform, and Dukapepe, a retail-tech service.
Accounting software in Namibia the cohort is completed by Cylon Accounting and Zofi Cash, an Ugandan payroll processing and salary advance platform.
“It is a great privilege for me to be working closely with these nine, multi-talented teams from across Africa and in different verticals. All entrepreneurs deserve to have an accountability partner and someone that can give an independent opinion and critique their business strategy, which will be my main role,” said programme managing director Eliud Mungai.
Cristobal Alonso, the worldwide CEO of Startup Wise Guys, said he had spent many years travelling to Nigeria and other African nations.
“There was always a sense of excitement in the startup scene, and at Startup Wise Guys we have felt the growth of the African ecosystem in our European programmes, with an increased number of applicants from across the continent,” he said.
“Our purpose is to help founders become entrepreneurs and to help them to build great international, sustainable companies. In addition, we want to create a strong, long-lasting impact. We have a long-term vision and this covers also becoming a considerable player on the African continent.”
