New Investments
Nigerian Startups Sycamore, Kunda Kids and PaveHQ Feted at NSIA Innovation Prize
Fintech startup, Sycamore, has emerged as the grand winner of the second edition of the Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation, securing a $100,000 prize.
The lending platform beat out a stiff competition of over 7,000 startups to clinch the top spot.
Two other finalists, Kunda Kids and PaveHQ, also received recognition, bagging $70,000 and $50,000 respectively.
Sycamore, founded in 2019 by Babatunde Akin-Moses, offers peer-to-peer lending services, providing risk assessment, commercial lending, and asset financing solutions.
Kunda Kids is an ed-tech company focused on African-inspired digital content, while PaveHQ is an international education and career platform.
The winners were selected based on market potential, team composition, traction, and solution competitiveness.
Commenting on the win, Sycamore’s CEO expressed his elation, highlighting the startup’s positive impact on society.
Aminu Umar-Sadiq, NSIA Managing Director, emphasized the prize’s role in fostering innovation and promoting homegrown talent.
Sycamore’s victory comes amid a growing loan app industry in Nigeria, which has seen a surge in licensed companies.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like...
Climate Fund Managers Invests $3.1 Million in 30MW Waste-to-Energy Project in Sierra Leone
Climate Fund Managers (CFM), a climate-focused blended finance investment firm operating across Africa, Asia, and Latin America, has announced a new initiative to co-develop a 30MW municipal waste-to-energy project in Freetown, Sierra Leone.
TowerCo Tanzania Secures $30 Million to Expand Rural Connectivity
TowerCo of Africa Tanzania (TOA Tanzania), a telecommunications infrastructure provider, has signed a $30 million financing agreement with British International Investment (BII) to bolster its network across the country.
ANKA Secures $5M Pre-Series A Extension to Accelerate E-Commerce Growth in Africa
ANKA, an Ivorian SaaS e-commerce platform for African businesses, has raised $5 million in a pre-Series A extension round led by the International Finance Corporation (IFC) with participation from Proparco and Bpifrance.
