In a thrilling finale, Koree, a fintech company hailing from Cameroon, has secured the coveted title of the overall winner in the 2023 Ecobank Fintech Challenge. The competition, which attracted a staggering 1,400 fintech entries from 64 countries, showcased the burgeoning innovation and talent within the fintech space, particularly on the African continent.
The Elite Eight Finalists
The competition saw eight finalists vying for the top spot. The distinguished list included Flexpay Technologies (Kenya), IPOXcap AI (South Africa), Kastelo (South Africa), Koree (Cameroon), Kori Tech (Senegal), Smart Teller Technologies (Nigeria), Rubyx (Belgium), and Wolf Technologies (DRC). Each contender presented their cutting-edge fintech solutions to an independent panel of judges.
Koree’s Triumph and the Prizes
Koree clinched victory after three rounds of rigorous judging, earning the grand prize of US$50,000. Wolf Technologies secured the first runner-up position, with a prize of US$10,000, while Flexpay Technologies claimed the second runner-up spot, receiving a prize of US$5,000.
About Koree and Their Winning Solution
Koree’s triumph was attributed to their innovative card wallet payment solution designed to digitize merchant payments. The judges were impressed by the practicality and impact of their solution, underscoring the company’s commitment to pushing the boundaries of fintech in Africa.
The Ecobank Fintech Fellowship
Apart from the cash prizes, all eight finalists, including Koree, have been inducted into the prestigious Ecobank Fintech Fellowship. This unique program opens doors for potential commercial partnerships with Ecobank, including seamless integration with the bank’s platforms and the opportunity to scale up fintech ventures across Ecobank’s extensive network of 35 African markets.
The Ecobank CEO’s Perspective
Jeremy Awori, the CEO of Ecobank Group, lauded the exceptional innovation demonstrated by this year’s finalists. He expressed the bank’s eagerness to collaborate with these fintech companies to develop groundbreaking products, services, and solutions for the benefit of customers and the advancement of the African continent.
A Historic Win and Future Collaborations
Notably, Koree’s victory marks a historic moment as the first-ever female-led fintech winner of the Ecobank Fintech Challenge. The company’s CEO, Magalie Gauze-Sanga, emphasized the significance of their triumph in recognizing innovation and diversity. She expressed excitement about collaborating with Ecobank Group to transform the financial landscape in Africa, digitizing cash-based payments and empowering millions of consumers while bringing value to local brands and retailers.
In conclusion, the 2023 Ecobank Fintech Challenge has not only showcased outstanding innovation but has also set the stage for meaningful collaborations that promise to shape the future of fintech on the continent.
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