Village Capital has announced Ghanaian startup, Farmerline and Rwanda’s Atikus Insurance as winners of its three-month FinTech for agriculture accelerator programme.
The startups received $50, 000 in investment each, after coming top in a venture forum which ended the three-month accelerator programme. The forum saw participants rank each other based on six criteria.
Ross Baird, Executive Director of Village Capital said, “We are excited about the positive impact that our entrepreneurs can have on improving the income of smallholder farmers–the backbone of the African economy–and eager to see our enterprises’ growth through communities across the continent.”
Ghanaian startup, Farmerline provides improved information access and communication channels for smallholder farmers and agricultural workers, and Rwanda’s Atikus Insurance expands access to capital for qualified individuals by increasing the financial and operational capacity of well-performing lenders around the world.
Village Capital’s FinTech for accelerator progammme kick-started in April, with 12 startups selected to participate. The program aims to have a sustainable, large-scale impact for communities, investors, and entrepreneurs in East Africa.
Participating startups received intensive business development training, mentorship from local business leaders and investors, and face-to-face interaction with potential customers.