Investment

Catalyst Fund receives $15M to support 30 fintech startups

LatAm ListCatalyst Fund, the Boston-based accelerator program, recently raised $15M from JP Morgan and UK Aid to back 30 fintechs in Africa, Asia, and Latin America over the next three years.

Catalyst Fund provides mentorship and funding to early-stage startups in the tech industry with a focus on promoting financial inclusion. Their portfolio includes Chilean credit provider Destacame and African payment venture ChipperCash.

The accelerator will choose an annual cohort of 10 fintech startups from five select countries to take part in a six-month program. These startups will have access to mentorship from the fund’s investor network and advisory committee, which includes Accion and 500 Startups. The five participating countries are Kenya, Nigeria, South Africa, India, and Mexico.

“We’re offering grants of up to $100K to early-stage companies, plus venture building support…and putting these companies on a path to product-market fit,” said Maelis Carraro, the Catalyst Fund Director.

Catalyst Fund will also use the $15M fund to grow the network of global partners that currently support the accelerator program, such as the addition of India’s Yes Bank and the University of Cambridge.

Read more on Techcrunch.

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