The Ghana edition of the Seedstars world competition has announced Ghanaian fintech startup Nvoicia its winning startup. Nvoicia will represent Ghana in the African regional summit which holds in South Africa in December.
Other startups recognised by the competition include Techshelta and Sumundi who came second and third respectively. The Stanbic Bank Incubator program also saw startups like Codetrain, Gas App, Jumeni and Nocofio pitch their products.
Winner of the competition, Nvoicia, pitched a product that solves the problem of unpaid invoices and pending orders for businesses. The fintech startup obtains unpaid verified invoices from a business and pays them up to 80% of the amount. The aim of this is to keep the business from going under while its clients take their time paying up. As soon as the client pays up, Nvoicia sends what is left of the amount to the business minus their fee.
First runner up TechShelta’s pitched a product that helps greenhouse farmers improve their production efficiency and income through its mobile and web-based application.
Sumundi, who finished third, presented an app that helps store management keep track of sales inventory and position their business for growth and expansion.
With Nvoicia’s win at the seedstars competition in Ghana, it will be pitching at the regional summit alongside other local winners across Africa.
The regional winner will then go on to represent Africa at the Seedstars world competition in Switzerland where the winners will be onboarded into the Growth Program.
The three-month virtual acceleration program focuses on growth and traction for the 10-20 winners selected from regional summit winners. The Growth Program also includes an investment of $50,000 of which $20,000 covers the program cost.
According to a report, Nvoicia is set to launch in Nigeria. And it is one of six startups MESTAfrica recently gave $100,000 in equity investment.
With its emergence as winner of the Seedstars competition in Ghana and with MESTAfrica backing it, the fintech startup is consolidating its presence on the continent and poised to go global.