Kenya’s Olivinetech and Nigeria’s Piggybank.ng Raise $50k from Village Capital
Two Fintech startups Kenya’s Olivinetech which has developed ASiM, sales (POS) and stock management solution, that networks multiple sites seamlessly and Nigeria’s Piggybank.ng – a service for financial institutions to enable debit card holders in Nigeria to save small sums of money frequently through automation of the saving process, have secured a win at Village Capital having received an investment fund of $50K each.
The Competition having been organised by the Mastercard Foundation and the DOEN Foundation in January with the aim of supporting Early age startups innovating to increase the financial health and improve livelihoods for the low-income population.
“Village Capital and its partners are committed to helping build a strong entrepreneurial community and ecosystem on the continent. Since running our first programme in Africa, Village Capital has seen significant growth, both in interest levels and sophistication, of businesses applying for our programs,” said Lia Mayka, Village Capital regional manager in sub-Saharan Africa.
Village Capital has invested more than US$300,000 in 11 startups in Africa, with those companies going on to secure more than US$5.5 million in follow-on funding.
