Six African businesses receive $400,000 in financing from FINCA Ventures Prize contest
The 2025 FINCA Ventures Prize competition, a flagship initiative of FINCA Ventures, has announced the winners of its annual competition. The competition, which champions innovation in fintech for financial inclusion and climate-smart agriculture, attracted over 300 applicants from across the African continent.
The competition saw six startups advancing to the final round from two categories: climate-smart agriculture and fintech for financial inclusion. The winners were selected, although the competition did not provide details on how the winners were chosen.
In the climate-smart agriculture category, Esther Kimani, founder of Farmer Lifeline Technologies, took first place and received US$100,000 in catalytic funding. Silo Africa co-founder Eliud Rugut came in second and received US$60,000, while Karpolax co-founder Samuel Muyita took third place and received US$40,000.
In the fintech for financial inclusion category, the first-place winner was Foluso Ojo, founder of truQ, who received US$100,000 in catalytic funding. The second-place winner was Cladfy co-founders Ebby Gatamu and Kibe John, who received US$60,000, and the third-place winner was 10mg Health founder Christian Nwachukwu, who received US$40,000.
Andreé Simon, global CEO of FINCA, expressed her excitement about the winners, stating that "African entrepreneurs are designing bold, locally grounded solutions to complex challenges." She further added that the winners deserved support that matches their ambition, resources that accelerate growth, open doors, and amplify their impact.
The competition aims to accelerate the impact of the winning startups, providing them with the necessary resources to grow and make a significant impact in their respective fields. The winning startups will receive a total of US$400,000 in catalytic funding.
The 2025 FINCA Ventures Prize competition is a testament to the innovative spirit of African entrepreneurs and the potential for positive change that they bring to the continent. The competition champions the development of solutions that address the unique challenges faced by African communities, particularly in the areas of climate-smart agriculture and fintech for financial inclusion. The winners are poised to make a significant impact in these areas and contribute to the continued growth and development of the African economy.
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