BFA Global’s Catalyst Fund announced that it has received $3.5 million from FSD Africa to boost the influence in Africa.
Catalyst Fund, managed by BFA Global, is a global accelerator that supports inclusive tech innovators in emerging markets offering inclusive solutions for underserved and climate-vulnerable communities, and builds the local ecosystems around them.
To date, the Fund has backed 61 startups across emerging markets that have together raised more than US$573 million in follow-on funding and reached over 13.2 million low-income customers
With FSD Africa’s backing, Catalyst Fund will invest and offer hands-on venture building support to high-impact startups that improve the resilience of underserved and climate-vulnerable communities, with a goal to support 40 pre-seed impact ventures in Africa
The accelerator will also continue to build strong innovation ecosystems by activating investors, capacity building networks, and corporate innovators to unlock capital, attract talent and share knowledge about fintech solutions tailored to those communities’ needs.
Launched in 2016, Catalyst Fund’s flagship Inclusive Fintech program is supported by JPMorgan Chase & Co., the UK Foreign Commonwealth and Development Office (FCD), PayPal and the Gates Foundation. Catalyst Fund Inclusive Digital Commerce in Ghana is supported by Mastercard Foundation.
The next cohort of startups will feature fintech solutions that build the resilience of underserved and climate vulnerable communities in emerging markets. These can include solutions in fintech and insurtech, agtech, carbon finance, water management, and other key sectors for resilience building and climate adaptation. Startups can apply here or reaching out to a member of the Catalyst Fund team.
