Core banking system FinAccess and personal finance app Esusu are two of the 12 companies to be selected for the third cohort of the Katapult Accelerator.
The accelerator, which is taking place in Norway, spans three months and provides members of the cohort with access to its global network of investors and partnerships. For making the accelerator, each of the companies will receive a $150,000 equity investment from Katapult.
There are 12 startups in the program which is focused on solving global environmental or societal problems. The startups to in the accelerator span across Kenya, Norway, Germany, USA, Egypt, Portugal, Canada, UK, Spain, Denmark, and Tunisia.
In order to be selected the companies needed to have an early-stage solution and utilise technology like blockchain, virtual reality, or artificial intelligence to help solve social or environmental challengers.
This is the third cohort in the accelerator program, which launched its first program in Autumn last year.
FinAccess is a core banking system which monetary financial institutions with end-to-end process automation software. Its services include cloud-based technology, debit cards and saving accounts issuing, data and analytics and digital money access.
Esusu is a personal finance solution designed to help marginalised communities to improve their savings. The app helps consumers to make savings, set financial goals and improve credit scores through financial resiliency programs.
The accelerator’s partners include PWC, Danske Bank, Amazon Web Services, IBM, Google and Microsoft.
Katapult Accelerator managing partner and co-founder Haakon Brunell said, “We provide the startups, whose focus is to drive global positive change with the use of exponential technologies, an environment of opportunities and an ecosystem to enhance their business model and scale. Our goal for each company is to prepare them for their next investment round, so that they achieve two to three times their original valuation, a track record we aim to keep.”
The other companies in the accelerator are biotech company Bio-Me, electric vehicle charging infrastructure EcoG, Farm management service Farmforce, VR science lab PraxiLabs, autonomous flight control algorithms for drones Pro-Drone, reading out loud technology SiMBi, sharing workspace Sp8ces, engineering team builder Think.IT, VR health wellness solution, and healthcare support app WeFitter.
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