June 2016 #BarclaysAccel
Barclays Accelerator is run in collaboration with Absa (An Authorised
Financial Services Provider). Absa is a Member of Barclays.
Techstars, is an
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ContentsMessage from Barclays
Message from Techstars
Meet the 10 Companies
Thank you to our mentors
Head of Open Innovation
Group CIO & CDO,
Barclays Africa Group
ate last year Barclays Africa Group
together with Techstars identified
10 innovators within financial
services from 9 countries to embark on
a three month accelerator programme
at Rise in Cape Town. We believe these
companies are catalysts of change
and our collective aim is to bring these
interesting and bold opportunities
Today, industry faces a range of
challenges. Many of these challenges
present wonderful opportunities for
refreshed and disruptive thinking. As a
customer-centric bank, we’re responsible
for challenging the status quo and
delivering new solutions that are aimed
at enhancing the customer experience.
To pioneer such change requires working
with the likes of companies being
showcased today and committing to
implement these concepts.
Three months ago, these companies
arrived in Cape Town with a rarely seen
passion and desire to share their unique
vision. We have witnessed incredible
focus, creativity and delivery. The
purpose of today is to demonstrate
just how far these companies have
progressed and how their strategic
direction has unfolded.
The diversity of these companies
highlights the vast opportunity for
change on the continent and across
the world. On stage today you will see
the culmination of hard work, intense
mentoring, strategy formulation and
product development and I’m sure, that
within this cohort, are companies that
will become household names.
At Barclays Africa Group we are
committed to continue working with
these companies as they present
innovative and dynamic value
propositions to our customers.
We trust you will enjoy the day with us
and be as excited as we are about our
shared future with companies like these
innovating within financial services.
a range of
come to the
Meet the Barclays Rise team
Head of Commercialisation
for Open Innovation
VP Open Innovation
hen you think of tech startup
hubs, you likely think of Silicon
Valley. But there’s another,
perhaps unexpected, place accelerating its
economy and challenging the status quo
of the FinTech landscape – Africa. This has
been demonstrated by the ten companies
selected for Africa’s inaugural Barclays
Accelerator powered by Techstars.
I feel privileged to have played a part
in extending the global reach of the
Techstars community to the continent and
proud of the tremendous breadth of these
entrepreneurs’ achievements. Working
alongside founders from nine different
countries has shown first hand the
entrepreneurial talent, innovative
capabilities and desire to effect change
that exists on this continent.
Our relationship with these founders is
just starting. Techstars exists to support
these promising founders throughout
their lifelong journey, from “inspiration
to IPO”. We’ll continue to provide access
to tens of thousands of community
leaders, founders, mentors, investors, and
corporate partners, allowing entrepreneurs
to continue to do more faster.
None of this would have been possible
without the dedication and commitment
of the company mentors, who openly
shared their hard-earned experience,
so that our companies could learn from
their successes and avoid their mistakes.
The Barclays Rise team and Executive
Sponsors also worked tirelessly with the
companies to reimagine FinTech. I want
to thank our programme manager Emily
and nine associates who have worked
long days and nights to ensure these
companies succeed. Finally, I’d like to
thank the Techstars Global sponsors for
their continued support.
The next frontier for FinTech disruption
is here. It’s now. It’s Africa.
Managing Director -
Techstars (Barclays Accelerator)
here. It’s now.
Global Programme Director
1. Surika Behrens Business/ Operations Associate
2. Aleks Andjelopolj Business Associate
3. Alicia Klassen Business Associate
4. Lauren Wallett Design Associate
5. Lawrence Joffe Tech Associate
6. Varnia Jacobs Business Associate
7. Julian Smida Design Associate
8. Guy Sawyer Tech Associate
9. Alex van Wyk Design Associate
1 2 3 4 5
Asoriba, which means “church member” in the Ghanaian
language Twi, is a web and mobile management and
donation platform that facilitates effective church
administration and seamless member engagement.
Asoriba optimises the church operations of half a billion Christians across Africa
through data solutions. This cloud-based software enables church administrators
to effectively manage church membership, events, communication and finance.
The application communicates and engages with members via SMS and the
mobile app. Church leaders can use captured data to generate multiple reports
such as church attendance and church branch activity. The Asoriba app also
allows church members to conveniently make donations and offerings.
Asoriba is actively working towards their quest of bringing technological
advancement to churches in Africa. Over 400 churches are currently signed up on
the platform, with an estimated 40,000 church members.
Asoriba won Africa’s Best Startup at the inaugural Seedstars Africa in 2015. Earlier
this year, the team also won the Innovate Africa Challenge, a business-pitching
competition for startup in Africa. CNN describes Asoriba as “the app that’s
changing religion in West Africa.”
Nana Opoku Ware Ofori Agyeman-Prempeh
CEO | email@example.com
Saviour Kwaku Dzage
CPO | firstname.lastname@example.org
Patrick Tutu Ohemeng
CTO | email@example.com
CPO | firstname.lastname@example.org
Obed Asamoah Boateng
VP Sales | email@example.com
Based in Accra, Ghana, BenBen is an interactive land information platform and
consensus database that aims to tackle the inefficiencies of land administration. This
is done to promote investment, reduce poverty and encourage transparent natural-
resource management. BenBen uses Blockchain technology to provide governments,
financial institutions, realtors and the general public instant access to property
information through an easy-to-use searchable interface.
BenBen generates revenue by providing access to paid-for-property information,
mortgage origination, licensing, thematic data analysis and management to their
clients which include banks, real estate developers and mining corporations.
BenBen has also received a Grand Challenges Explorations Grant from the Bill and
Melinda Gates Foundation to research the effectiveness of using the Blockchain to
increase access to mobile payments.
BenBen is a digital land database that provides fast and
easy access to trusted information about land through
Beyonic offers a single payment platform for clients who work across multiple
markets to pay suppliers, employees and beneficiaries via mobile money. Beyonic’s
partnerships with mobile network operators and digital financial service providers
across Africa enable businesses to quickly deploy and manage two-way mobile
money payments. The Beyonic platform, enterprise APIs and service delivery team
give each enterprise customer a comprehensive solution to integrated mobile
The platform also assists in preventing financial mismanagement by keeping record
of every payment by a company on one platform.
In Uganda, Beyonic has grown in excess of 20% month-on-month for the past year.
Beyonic serves over 50 enterprise customers, is operational in 4 countries, process
transactions worth $1 million per month and has contractual access to 33 mobile
network operators in 20 African countries.
Beyonic’s mission is to eliminate the rampant use
of cash in emerging markets. Dan Kleinbaum
Millions of people living in rural and semi-urban areas in Africa rely on SACCOs for
access to any financial services. iNuka Pap enables SACCOs to provide members access
to instant loans anytime, anywhere. The loans are guaranteed by members and are
payable in short periods of one to six months. SACCO members are able to get loans
from their mobile phones and receive them on the iNuka Pap Wallet. Here members
can withdraw from M-Pesa or use the iNuka Pap debit card to do transactions. These
paperless transactions save time and money for both the SACCO and their members.
iNuka Pap can integrate with any banking platform, as well as work independently
without any integration required.
Their target group consists of 60 million people registered with co-operatives across
Africa. iNuka Pap’s operations are currently in Kenya where 13 million people belong to
co-operatives, and they already have access to 10,000 customers on their platform.
During the time of the Barclays Accelerator, iNuka Pap signed additional SACCOs,
extending their access to over 120,000 members.
Racheal Wanjiku Karanja
George Thiga Kabugi
iNuka Pap is a mobile platform that partners with savings
and credit co-operatives (SACCOs) in Africa to provide
members access to instant loans.
Over 37 million Tanzanians cannot afford hospital healthcare and pass away
from treatable illnesses because of the inability to afford out of pocket financing
or health insurance. To enable the creation of affordable insurance covers, Jamii
has built a mobile policy management platform that performs 90% of insurance
administration activities, as well as building strategic partnerships with telecoms
and local insurance companies. This technology approach drastically cuts
insurance administration and distribution costs.
Premium payments and hospital claims are also administered through mobile
money. Customers can choose between three-month and six-month cover
policies based on their budget and number of dependents. Jamii believes in the
right of low-income earners to access hospital care and health insurance to
improve their quality of life. Jamii supporters include the Bill and Melinda Gates
Foundation, Vodacom and Jubilee Insurance.
Jamii is a mobile micro-health insurance company
aimed at providing low-cost health insurance to the low
income and informal sector from $1 per month.
Lilian Charles Makoi
ReAble’s current technology is aimed at providing financial accessibility to a targeted
customer base of the 200 million individuals with intellectual disabilities. The
company’s first product, the ReAble Pay Platform, is a money management application
that provides people with cognitive challenges access to financial services. The
application allows individuals to manage day-to-day finances and budgeting in a simple
and easy-to-use manner, and notifies users’ guardians of all transactions.
The ReAble Pay Platform was designed in collaboration with therapists and
psychologists to ensure a seamless experience for intellectually disabled users. The
app was built with the sole purpose of helping users to better integrate into society.
COO | firstname.lastname@example.org
CTO | email@example.com
Researcher | firstname.lastname@example.org
CEO | email@example.com
CAO | firstname.lastname@example.org
Personal Assistant | email@example.com
Lead Developer | firstname.lastname@example.org
ReAble designs tools and apps to enable people with special
needs to participate in the financial sector.
Using mobile money, SimbaPay allows the African diaspora to send money home
instantly at a 1/3rd of the cost of typical solutions used today. Money transferred
via the service to Africa is credited instantly at the destination mobile money
wallet, bank account or merchant.
The diaspora community are also able to pay merchants directly, with payments
ranging from school feels to hospital bills. It is also possible to open diaspora
bank accounts electronically within the SimbaPay app, making SimbaPay the first
company of its kind, to offer this service anywhere in Africa. In 2015, SimbaPay
was named the Overall Winner, Best African Startup at the prestigious DEMO
Africa 2015. In the same year SimbaPay became the first platform in the world
to allow Kenyans living abroad to make M-Pesa PayBill payments. The company
averaged 30% month-on-month growth in second half of 2015 and continues to
disrupt the cross-border remittance industry.
SimbaPay is revolutionizing the $64 billion cross border
payments market in Africa by allowing the diaspora
community to send money directly to the banked and
Co-founder & Chairman
Co-founder & CEO
The solution is designed to bridge the gap of immediate fund access for people with
limited access to formal credit. Social Lender uses its own proprietary algorithm to
perform a social audit of the user on social media, online and other related platforms
and gives a Social Reputation Score to each user. Loans are guaranteed by the user’s
social profile and network allowing users to then borrow from banks and other financial
institutions based on their social reputation.
Social Lender currently has over 10,000 registered users with a less than a 4% default
rate. Users can withdraw requested cash loans via existing banking channels including
bank accounts and mobile money. Social Lender is patent-pending and licensed to
financial institutions in the countries of operation.
Social Lender is a lending solution based on social
reputation on mobile, online and social media platforms.
The Tech4Farmers platform provides target groups such as rural farmers,
warehouse operators, financial service providers, input dealers and transporters
with access to real-time market information through an electronic commodity
exchange and warehouse receipt system. The platform also provides a digital
payment solution for transactions and warehouse receipt financing. Rural
farmers without access to the Internet can participate directly or indirectly in
the marketplace and payments solution. Tech4Farmers promotes transparency
throughout the value chain, while reducing operational and transactional costs
for farmers and traders. In one sub-sector in the agricultural space a total of
$500 Million is spent per annum on rice being imported into East Africa. This
happens despite constraints in market access and a lack of affordable finance
available to farmers.
The latter leads to the exploitation of local farmers. According to a report
released by the Word Bank Group in 2013, the agribusiness industry in Africa is
worth an estimated $313 Billion and is expected to reach $1 Trillion by 2030.
Tech4Farmers is a digital marketplace and payments
solution for agricultural commodities.
The WizzPass platform allows for multiple uses ranging from daily users at shopping
centres to permanent employees and visitors to office parks. If a parking fee is due, the
amount is securely and automatically deducted from the users credit or cheque card.
The WizzPass web dashboard also allows office employees to effectively manage and
book visitor parking. Using our patent-pending technology, the end-user simply uses
the WizzPass application to open the parking boom.
WizzPass operational sites include, Barclays Towers, Quirk Office, 15 on Orange Hotel
and Cape Quarter shopping centre. We are integrating into major software enterprise
solutions to allow blue chip companies to book visitor parking through the WizzPass
platform. WizzPass technology can be applied in a variety of alternative industries for
the use of our cashless payments technology such as paying for fuel or toll roads.
WizzPass is a revolutionary new parking access control
system used at office parks and shopping centres across
Lead Data Analyst
Lead UX/UI Designer