MICROCAPITAL BRIEF: Catalyst Fund to Incubate 6 “Inclusive” Fintechs Serving Africa, Latin America

Catalyst Fund, an initiative of the US-based firm BFA (Bankable Frontier Associates) Global, recently announced the tenth cohort of financial technology (fintech) companies that it will support in their efforts to serve more “underserved and climate-vulnerable communities in emerging markets.” Four of the companies are based in Africa: AquaRech, a platform focused on fish farming in Kenya; ColdHubs, a Nigerian business involved in food preservation; TopUp Mama, a supply-chain platform for entrepreneurs in Kenya and Nigeria; and Tulix, a Kenyan online payment company. The other two participants are Koltin, which provides health insurance and related services to older people in Mexico, and Mujer Financiera, which delivers financial and health education in Argentina and Mexico.

Catalyst will provide each firm with an investment as large as GBP 80,000 (USD 105,000) and arrange non-financial support from the staff of BFA and various partner investment and consulting firms. The fund was founded in 2015 and has supported 61 startups as of 2022 with “USD 446 million in follow-on funding” allowing them to have “reached over 10 million low-income customers.”

By Adhya Singh, Research Associate

Sources and Additional Resources

BFA press release
https://bfaglobal.com/catalyst-fund/insights/cf-welcomes-cohort-10/

Catalyst Fund webpage
https://bfaglobal.com/catalyst-fund/

BFA homepage
https://bfaglobal.com/

Aquarech homepage
https://aquarech.com/

ColdHubs homepage
https://www.coldhubs.com/

Koltin homepage
https://seguros.koltin.com.mx/

Mujer Financiera homepage
https://www.mujer-financiera.com/

TopUp Mama
https://www.topupmama.com/

Tulix homepage
https://www.tulix.app/

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