Five startups have been accepted into the third cohort of the Labs by ARM Accelerator Program, designed to support the best post-MVP startups solving the most challenging problems in the financial industry and enterprise.
The top five startups were carefully selected based on the relevance of their solutions to the program’s problem statement, the feasibility of products, and the strength of each team. After several stages of review and a competitive pitch session, the 5 startups selected to participate in the program include:
Pass
Founded by Eze Samuel Chukwunonso, the team is building the fastest one-clock login and checkout for digital commerce. From e-commerce stores or social media vendors, Pass is working to ensure customers experience top-speed, seamless checkout.
Bongalow
Founded by Kelechi Nwokocha, Abdulrahman Atta, and Samuel Haruna, Bongalow helps Africans everywhere to shop for affordable home financing solutions from the comfort of their homes. The marketplace gives lenders access to customers outside and within Africa a digitally-enabled mortgage solution.
Plumter
Plumter is providing instant, multicurrency accounts for easy local and diaspora banking. With a mission driven by cutting-edge technology, the team led by Yinka Elujoba is committed to enabling the next generation of Africans participate equally in the global economy.
Breeze
Breeze is a payment system that provides Nigerians with forex liquidity needed to trade and transact globally. Founded by Chimenem Nnwoka, the team is building this solution to connect Nigerians to the global financial system.
House Africa
Founded by Ndifreke Ikokpu and Nnamdi Uba, House Africa is the digital platform that helps financial institutions and individuals validate properties before investment or purchase.
The 12-week accelerator program commenced in March and will end with a Demo Day in June. Selected startups will be engaged in a series of activities aimed at exponentially advancing their companies’ growth and ensuring their investment-readiness. These startups will also receive up to $50,000 in equity funding, business advisory services, access to ARM’s API and network, as well as free and discounted services, amongst other benefits.
“I am very pleased with this cohort’s selection of startups and believe, given they adhere strictly to the program, these are the solutions we can expect to transform the fintech and enterprise solution space in Nigeria and for its diaspora.” – Mohamed Felata, Programs Director, Ventures Platform
Uche Azubuike, MD ARM Academy and Member of the Advisory Board for Labs By ARM, also said, “The solutions presented continue to raise the bar in fintech enterprise solutions. I am very excited and can’t wait to see the impact they bring to the segment and larger economy.”For more details about Labs by ARM 3.0, visit the program website at https://www.armlabs.com.ng/
