Six FinTech start-ups to be supported to sharpen their innovations

Britam’s innovation hub, BetaLab, has picked six high-potential start-ups for its 12-week pre-incubation program. The ventures are set to disrupt the Kenyan financial services landscape by addressing critical challenges in real estate, savings, SME financing, and healthcare.

The selected innovators include;

  • Zereba: A pioneering super App that offers a deposit-free rental marketplace and streamlines real estate transactions.
  • Amsha which leverages technology to create innovative savings solutions designed to resonate with young adults.
  • Adapo: A dedicated fintech platform empowering SMEs and startups through equity crowdfunding.
  • Chamazetu: A digital platform transforming the management of “chamas” (informal savings groups) in Kenya.
  • Pesaflex: Offering a secure and cost-effective bank-to-bank transaction solution to revolutionize payments for MSMEs.
  • Medicod AI: A transformative healthcare and insurance software utilizing advanced AI to optimize medical coding and billing processes.

The startups were chosen for their exceptional ability to address market needs within Britam and BetaLab’s areas of operation in the finance and insurance sector through insurance technology (InsurTech) and financial technology (FinTech).

The pre-incubation program will equip them with the necessary tools and support to scale their businesses and achieve significant impact in the financial sector.

Britam’s BetaLab is committed to fostering a thriving innovation ecosystem and empowering the next generation of entrepreneurs. Through this program, the selected startups will receive comprehensive support, including networking opportunities to connect with potential investors, partners, and customers.

From left: Maxwell Nderitu and Andrew Kamau Mbuthia from Adapo, Amos Njoroge Kairu from Chamazetu, Davis Makori Nyambune from Pesaflex, Samwel Kodilu Okumu from Amsha, Victor Makanya Ndiritu from Medicod AI

Guidance through: Business Model Development – establishing robust models that define value proposition, customer segments, revenue streams, and key activities. Product Development & MVP Creation – building a Minimum Viable Product (MVP) that addresses core market needs and showcases their solution’s potential.

Market Validation – making informed data-driven decisions to improve and iterate their product and Pitching Skills – preparing them to effectively communicate their ideas to investors, partners, and stakeholders.

“We are excited to collaborate with these talented entrepreneurs and support their growth journeys. Their innovative solutions have the potential to transform the financial services industry and improve the lives of Kenyans,” said Britam, Director of Partnerships and Digital, Evah Kimani.

Following a countrywide call for applications, BetaLab received a wide pool of applicants, and these six startups were shortlisted based on the quality and soundness of their ideas, and the clarity of their needs and objectives.

The pre-incubation program is a 12-week intensive journey designed to accelerate the startups’ growth and development. Upon completion, the top three performers will be eligible for incubation within the BetaLab program.

The program is in partnership with Senior Talent, which connects highly skilled and seasoned senior business executives with business founders to help tackle their business challenges and accelerate their development and growth.

“Entrepreneurship is a noble pursuit demanding exceptional resilience and innovation. BetaLab aims to empower these six startups to overcome challenges, create impactful solutions and foster economic prosperity while inspiring a new generation of entrepreneurs,” said Senior Talent Chief Executive, Nduati Maina.

Some of the program’s trainers and mentors are seasoned techpreneurs, including:

Eddy Thiong’o: An experienced tax lawyer and startup analyst who supports businesses in corporate strategy and tax advisory.

Dr. Matunda Nyanchama: An ICT professional and chairman of Damu Sasa, an innovative end-to-end blood services information management system.

Betty Cianda: A gender finance and business development consultant.

Edwin Kinoti: A digital transformation expert with a focus on cloud services and corporate acceleration.

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