Extraordinary People Needed: Start A Tech Company to Bring Financial Services to All Nigerians

Next opportunity for African fintech companies is serving low-income consumers

By Averi Thomas-Moore

Women in Takalafiya-Lapai village in Nigeria. Photo: Arne Hoel / World Bank

Women in Takalafiya-Lapai village in Nigeria. Photo: Arne Hoel / World Bank

Only two of every five adult Nigerians have banking services. With a population over 180 million, this means that more than 100 million people are left without the tools they need to grow their businesses and provide stability for their families.

Meanwhile, fintech ventures in Nigeria are booming, with almost $150 million raised last year for solutions that tap into technology to provide financial services. But how do we make sure this growing fintech sector serves the people who need it most? Enter Accion Venture Lab’s Company Builder.

Accion Venture Lab’s Company Builder is bringing together extraordinary people to build inclusive fintech startups from scratch in Nigeria. We’re looking for 15 future entrepreneurs from diverse fields to help craft robust solutions that can serve the millions of Nigerians that are currently left out of the financial system.

These skilled professionals will generate ideas and form startup teams to develop and refine their concepts. We’ll select the top ideas and match qualified co-founders together to test each solution. Finally, we’ll support the best team as they transition to full-time founders and build their company.

Throughout the process, Accion Venture Lab’s Company Builder will provide guidance from experienced investors and share knowledge gleaned from functional fintech models relevant to this market.

Accion Venture Lab has invested in 33 startups around the world that leverage innovative technology and business models to offer financial solutions, such as alternative credit scoring, digital lending, and cashless payments. We’ve seen how startups can reimagine what’s possible. They offer solutions that are higher in quality, less expensive, faster, safer, and more accessible than the status quo.

Can you help us build a startup to transform Nigeria’s financial services?

We’re looking for people with exceptional founder potential — no matter what stage you’re at in your career. Find your potential co-founder(s) and build a seed-funded fintech startup from scratch in Nigeria. If your ambition outweighs your current career status, apply to join us.

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