Cameroonian fintech startup Koree has emerged as the winner of the annual Ecobank Fintech Challenge, securing a top prize of $50,000. The competition, organized by pan-African bank Ecobank Group, aims to support and promote innovative startups in the fintech sector.
- Koree impressed the judges with its innovative card wallet payment solution. The startup’s technology enables digitalization of merchant payments, allowing consumers to collect spare change from cash retail payment roundups digitally. Additionally, users can earn cashback from participating stores and brands across various categories.
- Koree’s victory holds special significance as it marks the first time a female-led startup has won the Ecobank Fintech Challenge. This achievement highlights the growing role of women in the African fintech landscape and promotes diversity and inclusion in the industry.
- Alongside Koree, two other finalists, Wolf Technology from the Democratic Republic of Congo and Flexpay Technologies from Kenya, were recognized for their outstanding contributions. All three startups, along with the other five finalists, have been inducted into the prestigious Ecobank Fintech Fellowship program. This offers them the opportunity to explore potential commercial partnerships with Ecobank and expand their fintech ventures across the bank’s 35 African markets.
- Koree aims to revolutionize the financial landscape in Africa by digitizing cash-based payments and empowering millions of consumers while providing value to local brands and retailers. The startup’s victory in the Ecobank Fintech Challenge serves as validation for their innovative approach and potential impact.
- The CEO of Ecobank Group, Jeremy Awori, commended all eight finalists for their exceptional innovation and promise. He expressed the bank’s commitment to collaborating with these startups to develop groundbreaking products, services, and solutions that benefit customers and contribute to the advancement of the African continent.
- Ecobank Group sees sustainable partnerships with fintechs as a vital strategy in delivering convenient and affordable services to customers. By fostering collaboration and integration with innovative startups, the bank aims to drive financial inclusion and technological advancement across Africa.