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PayPal joins Catalyst Fund in its 9th cohort of inclusive fintech startups

Written by Joan Aimuengheuwa

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Focused on building an innovative ecosystem where fintech startups will strive globally, Catalyst Fund, managed by BFA Global, has announced its 9th cohort of inclusive fintech startups.

The accelerator also disclosed that PayPal will be joining the programme to support the exploration of how digital finance can create an adequate environment for climate resilience.

PayPal will join existing supporters including UK Foreign, Commonwealth and Development Office (FCDO) and JPMorgan Chase & Co.

Maelis Carraro, the managing director of Catalyst Fund stated how the goal of the cohort can impact the world positively.

“Climate change is already severely impacting low-income populations in emerging markets, who lack financial safety nets to cope with these additional shocks, ” she said.

“Digital finance can be a game-changer in enabling climate resilience solutions to better reach vulnerable populations, as we’ve already seen the ways in which it can enhance the breadth, depth, and affordability of solutions across industries,” she concluded.

Over time, Catalyst Fund has raised approximately $247 million in funding and has reached over 6.5 million low-income customers.

Also speaking on the positive impacts, Franz Paasche, Chief Corporate Affairs Officer of PayPal, had this to say:

“At PayPal, we believe that financial technology can help underserved individuals and communities build resilience to climate-related disasters and capture economic opportunities in the global climate transition.”

And expressing his delight, he said:

“We are proud to partner with Catalyst Fund to support these innovative startups at the forefront of developing new tools and technologies focused on the intersection of financial inclusion and climate resilience.”

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The six fintech companies accepted into this cohort include HealthDart, Kazi, Crop2Cash, Ohm Mobility, PocketFin, and Verqor, from across Nigeria, Kenya, South Africa, India and Mexico.

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These startups were approved by Catalyst Fund’s Investor Advisory Committee (IAC), which included Anthemis, Quona Capital, Better Tomorrow Ventures, Flourish Ventures, Accion Venture Lab and Gray Ghost Ventures.

They will join Catalyst Fund’s existing portfolio of 45 companies and will be connected to investors and innovators that will guide them to scale.

@TechEconomyNG connects past-present-emerging technological impacts on Businesses, People and Cities. All Correspondence to: [email protected]

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