Kenyan digital addressing startup OkHi and Nigerian multi-merchant rewards platform ThankUCash have been accepted into the Hong Kong-based Betatron accelerator, securing access to mentorship and funding. Founded in 2016, Betatron is an investment firm that runs an annual four-month accelerator programme to help companies expand their operations into Asia and secure funding. The programme provides up to US$500,000 funding for each selected startup, as well as mentorship and guidance to ensure a seamless expansion process. Having received 2,500 applications for its latest cohort, Betatron has selected nine startups to take part, including two from Africa. They are Kenya’s OkHi, which provides a digital addressing network that turns a user’s mobile phone into their physical address, and Nigeria’s ThankUCash, which has launched a rewards and loyalty platform that helps customers access deals and businesses better understand consumer spending patterns. The investment in OkHi forms part of the US$1.78 million funding round the startup announced last week. The other seven startups in the programme hail from France, India, the Philippines, Poland, and the United Arab Emirates (UAE).
SOURCE: DISRUPT AFRICA