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PayPal joins global fintech accelerator, Catalyst Fund as it announces 9th cohort of its inclusive fintech programme

August 02, 2021 · 1 min read
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Catalyst Fund, a global fintech accelerator managed by BFA Global, has announced the 9th cohort of the Catalyst Fund Inclusive Fintech programme.

It will be exploring the role digital finance can play in enabling climate resilience with select companies over the next two cohorts.

The accelerator also revealed that payment platform, PayPal joins the fund as a new supporter in its Inclusive Fintech programme. Previous supporters include UK Foreign, Commonwealth and Development Office (FCDO) and JPMorgan Chase & Co.

Franz Paasche, Chief Corporate Affairs Officer, PayPal, says, “At PayPal, we believe that financial technology can help underserved individuals and communities build resilience to climate-related disasters and capture economic opportunities in the global climate transition.

“We are proud to partner with Catalyst Fund to support these innovative startups at the forefront of developing new tools and technologies focused on the intersection of financial inclusion and climate resilience,” he concludes

In its Inclusive Fintech programme, Catalyst Fund has a history of investing in African startups in Nigeria, Kenya, and South Africa, with savings and investment platform, Cowrywise the first Nigerian company in its accelerator portfolio. 

In 2020, the accelerator received $15 million from JP Morgan and UK Aid to back 30 fintech startups across Africa, Asia, and Latin America. This raise was to be used in the succeeding three years.

Six fintechs have been accepted for this cohort. They include South Africa’s HealthDart, Kenya’s Kazi, Nigeria’s Crop2Cash, Indian startups, Ohm Mobility and PocketFin, and Mexico’s Verqor.

All six fintechs offer access to financial services to people or smallholder farmers in low-income areas.

They were approved by Catalyst Fund’s Investor Advisory Committee (IAC): Anthemis, Quona Capital, Better Tomorrow Ventures, Flourish Ventures, Accion Venture Lab and Gray Ghost Ventures.

Ogheneruemu Oneyibo

Ogheneruemu Oneyibo

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Writer, Humanoid, Forever she/her, Lover of words. Find me on Twitter @OnomeOneyibo.

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