Winners Emerge in Pegasus FinTech Challenge

Emma Okonji

Winners have emerged in the recently concluded Financial Technology (FinTech) competition, in Lagos.

Developmental investment institution, DLM Capital Group, through its digital banking subsidiary, SOFRI, has announced EazyChange as the winner of the first edition of its Fintech pitch competition tagged- Pegasus Fintech Challenge.

EazyChange is a FinTech startup with focus on creating easy cash payments for transportation in Nigeria. OgaPOS emerged as the first runner up, EsusuAfrica as second runner up, while Friendsvow emerged as the third runner up.

The pitch event, which was held recently at the DLM Capital Group headquarters in Ikoyi, Lagos, saw the finalists present their pitches to the panel of judges, which consisted of the Group CEO, DLM Capital Group, Sonnie Ayere; Managing Director of Links Microfinance Bank, Funsho Idowu; Chief Executive Officer of Cowrywise, Razaq Ahmed; Chief Operating Officer of TeamApt, Tobi Amira; Team lead Design and Innovation Lab at Africa Fintech Foundry (AFF), Omolola Tunde-Alade; and Senior M&A Executive at Interswitch Group, Victor Sada, who represented the Group’s CEO, Mitchell Elegbe.

TeamApt’s COO, Tobi Amira expressed satisfaction with the the conduct of the competition, organised by DLM Capital.

“It was a delight to sit as a member of the judging panel for the 2021 Pegasus Fintech challenge. The program aligns with our objective as an organisation to encourage innovation and creativity in the Nigerian FinTech landscape. It was particularly exciting to see and listen to young Nigerian founders who have come together to build solutions aimed at improving the lives of individuals and businesses in Nigeria for the better. I must also commend the organirers of this pitch for making an effort to promote and encourage innovation through funding and support. It’s our hope that the winners would put the funds to good use and bring all their fantastic ideas to reality,” Amira said.

The Managing Director of Links Microfinance Bank, Funsho Idowu, said the ‘Pegasus FinTech Challenge was a huge success, and that company remained pleased to have provided the support to FinTech startups in Nigeria as a way of enabling growth in the industry. We look forward to hosting subsequent editions with strategic partnerships from other players in Nigeria’s financial sector, Idowu further said.

The Pegasus FinTech Challenge was executed in partnership with tech accelerator, African FinTech Foundry, which is a part of DLM Capital’s commitment to accelerate seed funding and investments in the Nigerian FinTech space. The Fintech pitch event had 35 submissions where top five finalists emerged for the pitch day event.

DLM Capital Group is a developmental investment institution that provides innovative solutions to economic and social developmental challenges that impact the everyday lives of people. Since its inception, the investment bank has concentrated on creating markets, products, and long-term financing solutions to key sectors of the Nigerian economy that would benefit end customers to improve their well-being.