ImpactAlpha, June 25 – Catalyst Fund, the global inclusive fintech accelerator, announced its seventh cohort. The six startups will each receive £80,000 in grant capital and business support and mentoring.
They include Nigeria-based Flex Finance, which has developed a tool to help small- and micro- businesses establish a digital presence; Graviti, a Mexican company that enables unbanked families to flexibly pay for sustainable appliances; KarmaLife, a financial services suite for India’s growing population of gig workers; Mango Life, a Mexican startup that offers affordable health and life insurance plans; PayMeNow, a South African app that allows low-income workers to access part of their earned wages before payday; and WellaHealth, a Nigeria-based provider of affordable healthcare coverage for families.
The startups can help low-income customers build financial resilience in the face of the COVID crisis. “We believe we are facing a catalytic moment during which there is an opportunity to use technology to help low-income consumers and small businesses recover from the impact of COVID-19 and build greater financial resilience for the future,” said Maelis Carraro, Catalyst Fund Director.