Techstars, Africa’s most active startup investor, has announced its second cohort of 12 companies to participate in its pan-African accelerator program in partnership with Lagos-based innovation program ARM Labs. Two Ghanaian companies, One Plan and Swoove, are among the selected companies.
One Plan helps workers in Africa’s informal economy create affordable financial plans, making it easier to start a retirement plan, access low-interest credit, and access health + life insurance coverage. It is founded by Harold Awuah-Darko.
Swoove empowers logistics companies in emerging markets to digitise and scale their businesses with dispatch automation, fleet management, tracking and telematics, and a wide delivery network. It is led by Kwaku Tabiri, Kingsley Amponsah, Gloria Pascucci, Robert Quainoo and Kevin Blankson.
The 14-week immersive program will see Techstars invest up to $120,000 in funding in each startup and provide them with access to over $400,000 in cash equivalent hosting, accounting and legal support and other benefits worth more than $5M. The selected startups will also receive tailored mentorship, world-class company-building support, lifetime access to the Techstars worldwide network and targeted interactions with prospective investors to ensure that the continuum of follow-up capital is available as they grow. By partnering with ARM Labs, founders are exposed to ARM’s local network, research and insights and decades-long financial advisory expertise.
Source: Techstars
