Verto, a fintech company specializing in global payments and cross-border transactions, has launched the Verto Global Business Award to support early-stage businesses in their efforts to expand beyond local markets and engage with the global economy.
This initiative comes at a time when the World Trade Organization reports that 29% of global GDP is linked to international trade, a figure that continues to rise. For African startups, intra-continental trade is projected to generate an additional $450 billion in income by 2035, highlighting the significant opportunities available for businesses willing to scale internationally.
The Verto Global Business Award aims to empower startups by providing financial support and strategic connections that enable them to grow on a global scale and take advantage of this burgeoning market. To incentivize participation, Verto is offering a variety of rewards designed to assist startups in their international expansion efforts:
- Cash Prizes: Winners can receive up to $10,000 to help fuel their business growth, with additional prizes for runners-up: $3,000 for the first runner-up and $2,000 for the second runner-up.
- Global Recognition: Participants will gain international exposure and credibility, enhancing their visibility in the global marketplace.
- Resources to Scale: Awardees will have access to essential tools and connections that facilitate entry into new markets.
Kevin Ng’ang’a, Verto’s Kenya Country Manager, emphasized that beyond the financial rewards, innovators will benefit from mentorship and increased visibility among global investors. He stated, “We will be on the lookout for entrepreneurs utilizing cross-border operations and how they are helping their target markets grow, as well as those employing API solutions to reduce transactional costs and improve market linkages. We are also keen on market challengers solving critical problems that change the African story.”
Who Can Apply?
Startups that meet the following criteria are encouraged to apply for the Verto Global Business Award:
- Must have been operational for approximately two years.
- Should be based in South Africa, Nigeria, Kenya, the US, the UK, or other key global markets.
- Must demonstrate potential for international market expansion.
Selection Criteria
Applications will be evaluated based on several factors, including:
- Market impact
- Innovation
- Business growth potential
- Demonstrated operations in multiple markets
- Connections with international suppliers
How to Apply?
Applications for the Verto Global Business Award will open on March 1, 2025, and close on August 31, 2025. Interested startups can apply by filling out the online application form. Winners will be announced on October 10, 2025.
Why Verto?
Verto is a global B2B financial technology firm that specializes in cross-border payments, foreign exchange (FX), and banking solutions. With a purpose-built payment infrastructure that supports transactions in over 170 countries and 49 currencies, Verto assists more than 4,000 businesses, ranging from startups to large enterprises, in sending and receiving millions of dollars annually.
Ng’ang’a concluded, “To grow the economy, we have to make moving goods and services seamless, and that includes paying for them. We aim to reduce transaction costs as much as possible, improve access to markets, and foster integration between different payment systems.” Through the Verto Global Business Award, the company seeks to further its mission of facilitating seamless global trade and empowering businesses to thrive in the international marketplace.
