TechInAfrica – Growth Factor won the first place at the Ghana leg of the pitching competition which took place at the Stanbic Business Incubator, Accra. The winning saves its spot at the next Seedstars World Competition, giving the fintech company an opportunity to compete with other regional winners to win USD 500,000 in equity investment.
Growth Factor was founded in March 2018 by its CEO Kelvin Tyron and Ndifreke Anwanakak. It is recognized for its main product, Nvoicia—an invoice factoring product that allows small business to have access to collateral-free working capital through invoice discounting.
The startup was among the other seven startups that participated in 2018’s Meltwater Entrepreneurial School of Technology (MEST) incubation program. At the end of the program, the startup brought a USD 100,000. The other startups that took part on the pitching contest were TechShelta, an agri-tech startup; Sumundi, a store management platform; Codetrain, a software development training company; Gas App, a petrol-ordering app; Jumeni, a cloud-based field management platform; crowd-farming solutions Agripool, Nocofio, and Kwidex.
Meanwhile, in Kenya, The peer-to-peer micro-lending marketplace, Pezesha has emerged as the winner of the year’s Seedstars Nairobi pitching competition which was held in June this year.
Seedstars World enables startups from all over the world to participate in the competition. It selects winners from the regional levels and convenes them at the annual Seedstars Summit in Lausanne, Switzerland, to compete for investment and other prizes. The Summit will take place in April next year.