The first edition of the Fintech FIFA Tournament (FINFA 1.0) is set to hold in October 2022. This video game tournament is organized by the online peer to peer (P2P) lending and financial inclusion startup Sycamore, and features prominent Nigerian Fintech startups including: Flutterwave, Cowrywise, Kuda, Patricia, Trove, Mono, GetEquity, Periculum, Tap, Credpal, Identitypass, Grey, Allawee, Youverify, Bundle, Softcom, Arca, Zoropay, Mono, Fincra, and Clan (formerly known as Creditclan). Plans are also in place to allow for in-person and online viewership of the event.
The aim of this event according to Sycamore’s Chief Technology Officer (CTO), Daniel Anyaegbu, is to foster unity and forge a great relationship in the Fintech startup space. He added that “while the [Fintech] ecosystem is still relatively young and has a long way to go, we feel the need to create a healthy environment for all Fintechs where friendly competition and mutual respect is highly regarded.” The team hopes to hold this event on a yearly basis, hosting all Nigerian Fintech companies for a time of camaraderie and fun.
Sycamore as a company is no stranger to fostering and maintaining relationships. The startup which is well known for its P2P lending platform for businesses and individuals, recently launched Africa's first relationship-based lending product tagged ‘Loan Friends’. Loan Friends preserves friendships and familial relationships by removing the awkward part of lending and borrowing money between close friends and family. This recognizes the fact that everyone needs help at some point and not everyone will be able to access financial institutions for loans.
The 'Loan Friends' product has made it easier for people to reach out to loved ones for financial assistance while preserving the bond of the relationship. It also digitizes the lending process by enabling people loan money to their friends seamlessly, and ensuring that the lender gets the money back through automated reminders and direct deduction from the borrower on the agreed due date. This and other products such as the bill payment and wallet feature can be found on the Sycamore app and website.
The 1st round of the FINFA event, described as the “biggest Fintech gaming event ever” by Sycamore, is scheduled to hold on the 22nd of October by 11am, while the finals of the competition holds on 29th October and promises awesome cash prizes for the top three teams. To learn more about the FINFA games, visit the FINFA info page. You can also learn more about Sycamore here, and check out the Sycamore App as well.