The ARM Group has announced the commencement of the second cohort of the LABS by ARM Accelerator programme on the 10th of February, 2020.
Similar to the maiden edition ARM is partnering with Ventures Platform to support and fund compelling fintech startups solving key problems in innovative ways around the financial industry, unlocking verticals and markets thereby changing how users access and consume financial services.
During the 12-week Accelerator programme, we will work intensively with each FinTech startup in a series of activities aimed at exponentially advancing the growth of their companies within the short time frame.
ARM will also invest $20,000 (twenty thousand Dollars), offer office space, Amazon Web Services (AWS) credit of up to $10,000 (ten thousand Dollars), access to the ARM network capabilities and support the companies with carefully selected mentors comprising seasoned business leaders from the fintech industry who will provide hands-on support to the companies.
After the application deadline for LABS by ARM 2.0 , we had one hundred and ninety-one (191) submissions that were eventually reduced to thirty-three (33) and further reduced to eleven (11) companies after a tedious third round of evaluations. These eleven (11) companies were invited to the ARM headquarters in Ikoyi, Lagos for a chat with seasoned professionals, and technology entrepreneurs. Finally, five (5) of the companies were selected and have now been invited into the Accelerator programme.
They are:
Truesaver
Truesaver provides access to zero-interest loans by leveraging rotational savings. The solution is a contact-based platform where contacts can save a set amount monthly over a period with lump-sum savings being given to each saver monthly in rotation.
Owoafara
Owoafara is building tools and platforms to curate, verify and match small and medium-sized businesses with financial institutions for loans as well as provide support for companies that do not qualify for financing to enable the businesses to grow their business and better prepare to access financing.
Rise
Rise helps Nigerians grow wealth by connecting customers with the best investment opportunities around the world, cheaply and seamlessly.
Kwaba
Kwaba is a property rental financing platform that is solving bulk rental payment problems for low to middle income earning Nigerians Kwaba makes the upfront rent payment for retail customers and these customers are able to pay their rent on a monthly basis
Quantis Finance
Quantis is leveraging technology to automate trading and investments in order to make financial markets and instruments more accessible to local investors.
