SBC AfriTech runs a 13-week accelerator program in Cape Town that helps African startups secure pilots, commercial agreements and investor introductions. The accelerator’s second cohort collectively secured 20 proof-of-concept, pilot and commercial agreements and raised €600,000 in funding to date. The published total includes SBC AfriTech’s own €150,000 investment as part of the cohort funding. Demo day was attended by more than 200 investors and corporate leaders, and several cohort companies announced partnerships or pilot deals with corporates and insurers. Notable operating metrics from cohort companies include Kudimoney’s beta generating over $300,000 in goal-based savings for 10,000 users (with a 30,000-user waiting list), Brandbook’s pilot analysing over 1,000 receipts and processing R21-million in transactions in 10 days, and MPost engaging in early pilots across four African countries. SBC AfriTech plans to work with equity crowdfunding platform Uprise.Africa to link alumni startups to potential investors and will count funds raised within six months after demo day as part of its impact.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2018