Ghanaian Fintech Growth Factor wins Seedstars Ghana leg

Growth Factor, has taken top spot at the Ghanaian leg of the Seedstars regional competition.

This win secures a spot for the fintech at the next Seedstars World Competition, where there will compete with other regional winners for USD 500,000 in equity investment.

Growth Factor’s main product, Nvoicia, is an invoice factoring product that enables small businesses to gain access to collateral-free working capital through invoice discounting.

The startup is one of seven that took part in 2018’s Meltwater Entrepreneurial School of Technology (MEST) incubation programme; at the end of which it took home USD 100,000.

In second place was agri-tech startup TechShelta, followed by store management platform Sumundi.

Other startups that participated in the pitching contest were: software development training company Codetrain, petrol-ordering app Gas App, cloud-based field management platform Jumeni, and crowd-farming solutions Agripool, Nocofio and Kwidex.

Last year’s winner in Ghana was agri-insurance platform Cowtribe.

Related article: Pezesha wins Kenyan Leg of Seedstars competition

Seedstars World sees participation from startups all around the globe; winners from the regional levels convene at the annual Seedstars Summit in Switzerland to compete for the equity investment and a host of other prizes.