FinTechNGR Targets Accelerated Startup Growth with Marketplace Platform

Emma Okonji
In a bid to address challenges posed by startups and investors in Nigeria’s FinTech ecosystem, the FinTech Association of Nigeria (FintechNGR) has launched The Start-Up Marketplace platform to address the challenges.

The Marketplace platform is an innovative platform designed to provide start-ups playing in the Fintech ecosystem with access to free and heavily discounted services in funding, legal, infrastructure, cybersecurity, data privacy, business development, and a variety of other areas, to accelerate their growth.

Making the announcement at the association’s first conference of the year, tagged ‘Fintech Outlook 2022’, the President, FinTechNGR, who is also the Executive Director, Information Technology and Operations at Access Bank Plc, Ade Bajomo, said: “The Start-Up Marketplace will aid in the development and deepening of Nigeria’s FinTech talent pool. The platform will also encourage research and development to get innovators and start-ups on a higher plain, foster an environment of supportive regulation to grow the industry, facilitate local investors to participate in the funding of FinTechsand position local start-ups and innovators to build and develop durable and strategic intellectual properties.”

According to Bajomo, the COVID-19 pandemic resulted in a challenging year for businesses globally. Despite this, start-ups in the most powerful economies in Africa have continued to grow and show great potential, becoming increasingly significant in the new normal.

Highlighting reasons for the increased interest, Head of the Africa Fintech Foundry, Daniel Awe, spotlighted heightened innovation as a key driver. According to Awe, “We are already beginning to see FinTechs innovate across Greentech, Digital Insurance, blockchain, financial inclusion, amongst others.

That said, we need to continue creating strategic partnerships with other players in the ecosystem through which game-changing innovative solutions can be formed formed and new potentials can be discovered enabling growth, customer satisfaction, and improved business practices. The Foundry is contributing to this development by creating ventures that can compete in various industry verticals by providing new and improved digital products to end-users thereby enabling opportunities in new markets to be developed.”