Fintech start-ups shop for investors at ARM demo day
As the nation’s fintech sector continues to advance and record more wins, five start-ups have made a big impression on potential investors at a Demo Day organised by ARM Labs.
The ARM Labs Innovation Programme, a flagship initiative of ARM Group, hosted the successful Demo Day for its 5th cohort in Lagos. At the event, five promising startups that have completed the intensive seven-week programme made presentations to investors and industry experts.
The ARM Labs Innovation Programme is a renowned support initiative designed to nurture and empower selected Nigerian startups. Its mission is to improve their products, expand their market reach, and strengthen their team’s skills to enhance their chances of success.
According to the organisers, this year, the innovation programme expanded to accommodate FinTech, PenTech (Pension Tech), Data Intelligence, and Digital Trade startups.
With a focus on empowering Nigeria’s future leaders, the programme aimed to discover and support potential startups in those categories.
Speaking at the event, the Director of Digital Transformation at ARM, Ina Alogwu said: “Entrepreneurs that have very interesting things have ARM Labs’ commitment to assist them.
We don’t just try to offer financial support; it goes beyond that. Think of a venture like a growing child. When the kid is younger, they need a lot of handholding and that is what we are trying to do. We are using our expertise to try and guide ventures while also seeking external mentors who come from several fields and backgrounds to help us achieve that objective as well.”
Following a rigourous selection process, five ventures were chosen to participate in this year’s cohort. The programme, hosted in partnership with Techno Vision, an African entrepreneurship support organisation, provided an enriching experience for selected founders. They worked closely with a diverse range of mentors and industry leaders to enhance their products, expand their market reach, and maximise their potential for success.
The five start-ups include Arich (FinTech) which is a digital bank that provides mobile banking, lending, investment, savings, and banking tools to small and medium enterprises while helping individuals build wealth through a decentralised investment model. The second firm, GoNomad (FinTech) enables entrepreneurs in emerging markets to incorporate their companies globally in countries such as the United States, United Kingdom, and United Arab Emirates within five business days.
This is follow by Periculum (Data Intelligence) which is a data analytic Artificial Intelligence and Machine Learning software company that empowers organisations in underserved markets and focused on bringing intelligence to the core of everything that matters most to customers.
Another firm is Wano (FinTech) which is a banking-as-a-service platform that helps African businesses provide financial services to customers using WhatsApp. While the last start-up, Farmer First (AgricTech) is an AgricTech company that deepens financial inclusion, providing micro-loans and access to the market for farmers and women agro-traders in Nigeria.
Deputy Chief Executive Officer, ARM Group, Sadiq Mohammed, spoke about ARM’s goal for supporting innovation
in Africa and discussed the group’s innovation initiatives and partnerships. He highlighted ARM’s role in providing platforms to nurture and develop innovative ideas within the ecosystem
through programmes such as the Deji Alli ARM Young Talent Awards (DAAYTA), ARM Labs Innovation Programme, and ARM Labs Lagos Techstars Accelerator Programme.
He said in addition to the investment of up to $50,000 in each startup, the ARM Labs Innovation Programme 5.0 will provide comprehensive training, cutting-edge office workspaces, potential collaborations with ARM subsidiaries, and access to an extensive network of investors.
According to the organisers, over the last four cohorts, the programme has invested over $400k and supported over 21 notable Nigerian startups, with some securing coveted spots in prestigious international accelerators such as Y Combinator and TechStars.
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