Self –Insurance platform Franc Group has emerged winner of the 2018 Seedstars South Africa finals.
The Joburg based fintech startup will now compete at the global final in Switzerland to stand the chance to pitch for up to US$1 million in equity investment.
Winners in the global early-stage startups competition Seedstars had emerged in other African countries like Nigeria, Egypt, Tunisia, Zimbabwe, Morocco, Ghana, Rwanda, Libya, Uganda, Senegal, the Democratic Republic of Congo (DRC), Kenya, Mozambique, Guinea Bissau, Angola, Nigeria, Cameroon, Botswana, and yesterday (November 14) a South African startup was added to the list.
Franc Group came first ahead of second placed property tech startup HouseMe while peer-to-peer storage and parking platform Sxuirell was placed third. Seven startups in all pitched.
Founded in May by CEO Thomas Brennan, the winning startup offers customers the opportunity to grow their wealth and manage their personal risk. The Franc app is set to make investing simple and affordable, giving stokvel members access to the money market and an exchange-traded fund via their mobile phones.
The Seven startups were screened in front of a jury comprised of Naspers Ventures strategy manager Minette Havemann, Nedbank head of disruption and innovation Stuart van de Veen, Seedstars regional manager for Africa Claudia Makadristo and Hybr partner Vuyisa Qabaka.
Franc Group will now represent South Africa at the Seedstars Africa summit in Tanzania in December the global summits in Lausanne, Switzerland in April next year.
Away from South Africa, Seedstars world’s exploration of the Africa startup ecosystem will see it make its next stop in Banjul; Gambia’s capital city on Saturday, November 17.
