Catalyst announces 15 million USD fund for inclusive finance
Fintech accelerator Catalyst has announced a 15 million USD fund to advance financial inclusion for underserved people. The announcement was made during the 2020 UK-Africa Summit in London. Catalyst also unveiled its next cohort of start-ups : Kenyan based mobile money lender Pesakit; another Kenyan app for savings and credit cooperatives, Kwara ; Cowrywise – a savings and investment tool for Nigerian youth; South Africa debt counselling and savings app Meerkat ; Indian farmers digital credit app Farmart ; and Spoon – South Africa-based savings and credit offering for women-owned, SMES.
The fund is resourced by UK aid and J.P. Morgan.