November 8, 2017 IBOMLLC Team

7 Tech Startups in Kenya bags $1.4m from World Bank’s XL Africa program

Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Seven Kenyan tech startups are among the 20 digital startups that have secured Ksh. 150 million ($1.4m) from the World Bank business development program XL Africa.

XL Africa was launched back in April and is geared towards recruiting a cohort of 20 digital tech startups, with promising solutions, and put them through tailor-made training, mentorship program with local and global experts. The startups will also have access to a network of investors and platforms to increase their regional visibility.

The XL Africa has also partnered with other investment groups to aid startups attract early-stage capital investment of between $250,000 and $1.5 million. The startups from Kenya that bagged this prize are:

Asoko Insight: A data site

Lynk Jobs: A HR service portal

Ongair: An SMEs service website

Pesabazaar: A fintech news website

Sendy: A parcel delivery company

Snapplify: A publishing business

Sokowatch: A distribution channel

Overall the program has shortlisted just 20 startups from a list of applicants of over 900. Startups that got the highest considerations were those that are “specializing in digital solutions for the African market, including fin-tech, transportation, healthcare, education, human resources, and B2B.” Preparations to have the chosen 20 go …read more

Read more here:: 7 Tech Startups in Kenya bags $1.4m from World Bank’s XL Africa program



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