Startup-focused news and research company Disrupt Africa has announced it is to make Finnovating for Africa 2021, the third edition of its deep-dive into the continent’s fintech space, free to all as part of an open-sourcing initiative alongside partners that include payments company Flutterwave and VC firm GreenHouse Capital.
Every two years since June 2017, Disrupt Africa has released the Finnovating for Africa publication, which tracks the extraordinary development of the fintech ecosystem across Africa over the last few years.
It includes consideration of the regional spread and growth of fintech ventures, discussion of startup activity in various sub-sectors of the fintech industry, data on fintech startup launches by year, tracking of funding and acquisitions in the fintech space, details of fintech accelerator programmes open to African applicants and financial institutions with initiatives aimed at African fintech startups, and a full list of every known African fintech startup.
Previously available for sale, the report is purchased by leading tech companies from Africa and the rest of the world, Big Four consulting firms, banking and fintech leaders, venture capital firms, supranational investors and international trade bodies. In June 2021, however, Disrupt Africa will make the next edition of Finnovating for Africa open source.
This will make the data and analysis contained in its pages accessible to those for whom the information is most valuable – African entrepreneurs – and follows on from the success of the recently-released African Tech Startups Funding Report 2021, which was made available for free for the first time in January and has so far been downloaded more than 2,000 times.
It is doing this with the help of key partners Flutterwave, an African fintech company that allows clients to use its APIs and work with its developers to customise payments applications, and which recently obtained “unicorn” status, and GreenHouse Capital, a Lagos-based fintech investment company that invests capital and specialised expertise into companies that will power Africa’s economic future.
Confirmed section partners at this stage are MFS Africa, a leading pan-African fintech company, operating the largest digital payments hub on the continent; and truID, the largest Open Finance platform in South Africa.
The other confirmed partners so far are DEMARS, an inclusive financial technologies provider that builds wallets and APIs for peer-to-peer money transfers; Quona Capital, a venture capital firm that invests in fintech innovations advancing inclusion in emerging markets; JUMO, a market-leading Banking as a Service platform that powers AI for financial services in emerging markets; Abjel Communications, a social enterprise communications agency; and Kuda, a full-service, digital-only bank with a mission to make banking more accessible, affordable and rewarding for every African on the planet. FlexClub, E-Settlement, BitLipa, Eversend, Sun Exchange and Zagace are also supporters.
“The successful open-sourcing of our flagship funding report in January, both in terms of the quality of partners secured and the number of downloads, inspired us to also make our vertical publications free to all, starting with Finnovating for Africa 2021. We are delighted to welcome on board a stellar cast of supporters, and can’t wait to get a copy of the report to as many entrepreneurs as possible,” said Tom Jackson, co-founder of Disrupt Africa.
“Over the last few years, more and more data sources have emerged on the African tech startup ecosystem, yet the price of this data often means it is not accessible to early-stage startups,” said Gabriella Mulligan, Disrupt Africa co-founder. “We are excited to make valuable data and analysis available for free to those that need it the most, and hope it inspires more success stories on the continent.”
Disrupt Africa’s partners expressed their excitement at playing such a key role in this open-sourcing project.