Catalyst Fund, a Boston-based accelerator for early-stage technology start-ups, has raised $15 million with its long-term backer JP Morgan and UK Aid to back 30 fintech start-ups founded across South Africa, Kenya, Nigeria, India and Mexico over the next three years.
The US and UK-backed accelerator offers mentorship and non-equity funding to fintechs tackling financial inclusion in emerging markets. With fresh funding, ten fintech start-ups from across all five countries will be selected each year to take part in the fund’s programme.
The announcement came alongside this week’s UK-Africa Investment Summit, which was hosted by the UK Prime Minister Boris Johnson.
Read more at Fintech Futures.