Global tech accelerator Catalyst Fund , managed by BFA Global , has announced its tenth cohort of fintech companies that are building solutions designed to improve the resilience of underserved and climate vulnerable communities in emerging markets.
Low-income and underserved communities in emerging markets will bear the brunt of the climate crisis, yet contributed the least to it. The impacts of climate risks are predicted to be expansive, affecting communities in wide ranging and unforeseen ways. Its fundamental to invest in solutions that build resilience to shocks and ensure these solutions are reaching the most vulnerable, said Maelis Carraro, Managing Director of Catalyst Fund. We have explored models that push the frontier of current thinking around resilience-building for climate vulnerable people, and we are energized to explore how fintech innovation can help these populations, by supporting pioneering entrepreneurs in Kenya, Nigeria and Mexico. We look forward to exploring this innovation frontier for fintech with the invaluable support of JPMorgan Chase, FCDO, and PayPal.
JPMorgan Chase is committed to helping advance a sustainable and inclusive economy by helping clients transition to a low-carbon world, supporting green initiatives as part of our $2.5 trillion sustainable development target and minimizing the environmental impact of our own operations. In addition, we are helping advancing community resilience to climate change, said Miriam Freeman, Vice President for Global Philanthropy at JPMorgan Chase. We are pleased to support Catalyst Funds latest cohort in fostering inclusive technology as an important part of an inclusive economic recovery.
Launched in 2015, Catalyst Funds Inclusive Fintech program provides startups with flexible capital, bespoke venture building support from emerging markets and fintech experts and access to a global network of investors and corporate partners, while sharing learnings and insights with the broader inclusive tech ecosystem.
The companies joining the tenth Inclusive Fintech cohort are:
AquaRech [Kenya]: Platform for fish farmers to source quality feed, reduce growth cycles by monitoring via sensor technology, find new routes to market, and access credit to enable growth
ColdHubs [Nigeria]: A plug and play modular, solar-powered walk-in cold room, for 24/7 off-grid storage and preservation of perishable foods, enabled through digital payments
Koltin [Mexico]: Digital health insurance solutions and preventative care for the regions growing senior population
Mujer Financiera [Argentina and Mexico]: Financial wellness with a multi-tiered approach to build the financial literacy, financial health, and resilience of underserved women
TopUp Mama [Kenya and Nigeria]: Online B2B platform for restaurants to purchase all inventory required at wholesale prices, including perishable goods requiring an adapted (cold) supply chain, and access working capital to grow their business
Tulix [Kenya]: A digital payment wallet to enhance visibility of funds and collaboration between African migrants and their beneficiaries back home
These companies will join Catalyst Funds existing portfolio o f 55 companies and receive catalytic capital, bespoke and expert-led venture building support from BFA Global, and direct connections with investors, corporate innovators and talent networks that can help them scale. Catalyst Fund will continue to explore the opportunity for inclusive fintech innovators to enhance the resilience of vulnerable populations.
To date, Catalyst Fund has raised more than $446 million in follow-on funding and reached over 10 million low-income customers. Startups in this cohort were approved by Catalyst Funds Investor Advisory Committee (IAC), formed by six leading fintech and emerging market investors from around the world: Anthemis, Quona Capital, Better Tomorrow Ventures, Flourish Ventures, Accion Venture Lab and Gray Ghost Ventures.
Catalyst Fund is supported by the UK Foreign, Commonwealth and Development Office (FCDO), JPMorgan Chase Co., and PayPal, and fiscally sponsored by Rockefeller Philanthropy Advisors.
At PayPal, we believe digital finance innovations can help power greater climate resilience around the world," said Sri Shivananda, EVP and CTO, PayPal. "We are excited to welcome the next cohort of startups into Catalyst Fund, and to support fintech innovators that are helping people to anticipate and recover from disasters, adapt livelihoods, and build long-term resilience to unforeseen impacts of climate change.
Inclusive tech providers are making inroads with pioneering models that can serve climate vulnerable populations and improve their resilience to shocks. While there is growing willingness among investors and government to support such solu
Low-income and underserved communities in emerging markets will bear the brunt of the climate crisis, yet contributed the least to it. The impacts of climate risks are predicted to be expansive, affecting communities in wide ranging and unforeseen ways. Its fundamental to invest in solutions that build resilience to shocks and ensure these solutions are reaching the most vulnerable, said Maelis Carraro, Managing Director of Catalyst Fund. We have explored models that push the frontier of current thinking around resilience-building for climate vulnerable people, and we are energized to explore how fintech innovation can help these populations, by supporting pioneering entrepreneurs in Kenya, Nigeria and Mexico. We look forward to exploring this innovation frontier for fintech with the invaluable support of JPMorgan Chase, FCDO, and PayPal.
JPMorgan Chase is committed to helping advance a sustainable and inclusive economy by helping clients transition to a low-carbon world, supporting green initiatives as part of our $2.5 trillion sustainable development target and minimizing the environmental impact of our own operations. In addition, we are helping advancing community resilience to climate change, said Miriam Freeman, Vice President for Global Philanthropy at JPMorgan Chase. We are pleased to support Catalyst Funds latest cohort in fostering inclusive technology as an important part of an inclusive economic recovery.
Launched in 2015, Catalyst Funds Inclusive Fintech program provides startups with flexible capital, bespoke venture building support from emerging markets and fintech experts and access to a global network of investors and corporate partners, while sharing learnings and insights with the broader inclusive tech ecosystem.
The companies joining the tenth Inclusive Fintech cohort are:
AquaRech [Kenya]: Platform for fish farmers to source quality feed, reduce growth cycles by monitoring via sensor technology, find new routes to market, and access credit to enable growth
ColdHubs [Nigeria]: A plug and play modular, solar-powered walk-in cold room, for 24/7 off-grid storage and preservation of perishable foods, enabled through digital payments
Koltin [Mexico]: Digital health insurance solutions and preventative care for the regions growing senior population
Mujer Financiera [Argentina and Mexico]: Financial wellness with a multi-tiered approach to build the financial literacy, financial health, and resilience of underserved women
TopUp Mama [Kenya and Nigeria]: Online B2B platform for restaurants to purchase all inventory required at wholesale prices, including perishable goods requiring an adapted (cold) supply chain, and access working capital to grow their business
Tulix [Kenya]: A digital payment wallet to enhance visibility of funds and collaboration between African migrants and their beneficiaries back home
These companies will join Catalyst Funds existing portfolio o f 55 companies and receive catalytic capital, bespoke and expert-led venture building support from BFA Global, and direct connections with investors, corporate innovators and talent networks that can help them scale. Catalyst Fund will continue to explore the opportunity for inclusive fintech innovators to enhance the resilience of vulnerable populations.
To date, Catalyst Fund has raised more than $446 million in follow-on funding and reached over 10 million low-income customers. Startups in this cohort were approved by Catalyst Funds Investor Advisory Committee (IAC), formed by six leading fintech and emerging market investors from around the world: Anthemis, Quona Capital, Better Tomorrow Ventures, Flourish Ventures, Accion Venture Lab and Gray Ghost Ventures.
Catalyst Fund is supported by the UK Foreign, Commonwealth and Development Office (FCDO), JPMorgan Chase Co., and PayPal, and fiscally sponsored by Rockefeller Philanthropy Advisors.
At PayPal, we believe digital finance innovations can help power greater climate resilience around the world," said Sri Shivananda, EVP and CTO, PayPal. "We are excited to welcome the next cohort of startups into Catalyst Fund, and to support fintech innovators that are helping people to anticipate and recover from disasters, adapt livelihoods, and build long-term resilience to unforeseen impacts of climate change.
Inclusive tech providers are making inroads with pioneering models that can serve climate vulnerable populations and improve their resilience to shocks. While there is growing willingness among investors and government to support such solu