The Mastercard Foundation Fund for Rural Prosperity (FRP) has announced the nine startups from seven countries to which it will award over $9 million. These are startups whose projects seek to extend financial inclusion to people living in rural areas, and some of these startups are from Africa.
The nine selected startups were handpicked from over 300 applicants who were vetted through a two-phase competition that ran from June 2017 and to January 2018. Mastercard mission for FRP is to enable startups with innovative and scalable financial products and services help improve access to financial services for the poor living in rural areas of Africa.
There will be two more additional lists of winners of FRP assessed as part of the 3rd and 4th phase of this competition. The list will be announced next year. But for this phase one list, the African startups to make the cut are as follows:
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