In a significant achievement for African FinTech, Daba has clinched first place at the 2024 Ecobank FinTech Challenge.
The prestigious event, hosted at the Ecobank Pan African Center in Lomé on September 27, saw Daba outperform a host of early-stage and mature startups, securing a $50,000 prize and a spot in the Ecobank FinTech Fellowship programme.
This year’s challenge, the seventh edition, drew participation from a broad spectrum of FinTech startups across Africa, all eager to forge a partnership with Ecobank, a leading pan-African banking group. Daba’s standout strategy to democratise investment opportunities in Africa and emerging markets distinguished it from its competitors.
Boum III Jr, CEO and co-founder of Daba, shared his excitement about the victory, “This victory is a testament to our team’s dedication and the transformative potential of our platform. Winning the Ecobank Fintech Challenge validates our mission to empower both retail and institutional investors by providing seamless access to diverse investment opportunities across Africa.
“We are excited to collaborate with Ecobank and leverage their extensive pan-African network to scale our offerings and drive financial inclusion across the continent.”
As the challenge winner, Daba now has the chance to explore various partnership avenues with Ecobank, potentially integrating products and tapping into Ecobank’s expansive banking network, which spans 35 sub-Saharan African countries, along with its commercial and service provider partnerships.
The Ecobank FinTech Challenge has been a catalyst for numerous successful FinTech innovations since its inception, thanks to its rigorous selection process. This year’s competition attracted over 5,500 contestants from 64 countries, highlighting its importance in shaping the African FinTech landscape.
Daba’s unified investment platform comprises a diverse suite of products tailored to a broad investor base, including real investing apps for individual investors, services for fund managers and professional investors through Daba for Institutions, and investment intelligence and analytics through Daba Pro. Moreover, Daba for Issuers and Daba APIs and SDK facilitate connections between capital seekers and providers, integrating savings and investment products for tech companies.
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