ARM Labs, a Lagos-based innovation programme focused firm, said it has partnered with Techstars, a global investment business, to launch the ARM Labs Techstars Accelerator programme aimed at investing over $120,000 annually in startup fintechs in Nigeria.
The programme, which is also aimed at helping fintech startups to grow and drive innovation, will focus on investing in early-stage fintech companies in Nigeria.
Jumoke Ogundare, chief executive officer of ARM Labs, said the company has been on a mission to support African fintech startups that are solving key problems in innovative ways.
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According to Ogundare, the partnership with Techstars is a step in propelling the African continent to become the future global capital of fintech and transforming how Africans access financial services.
Ogundare said the programme will enable ARM Lab to select up to 12 startups on an annual basis to benefit from up to $120,000 in funding and startup programming and will enable selected firms to access Techstars’ vast network of over 7,000 mentors and over 20,000 investors, alumni, as well as corporate partners.
She said that the ARM Labs Lagos Techstars Accelerator is expected to receive applications from interested fintechs from June to August 2022 and that the programme’s inaugural class will also begin in December 2022.
