Interswitch unveils Sh1b innovation fund

Pan-African payments company Interswitch Group has announced the extension of  a $10 million (Sh1.3 billion) growth fund for East Africa.

Interswitch East Africa Chief Executive Paul Ndichu said the e-Payment Growth Fund is intended to serve as a catalyst for funding innovation and disruptive business concepts within the digital payment and commerce industry across Africa.

The company is looking to collaborate with African entrepreneurs and startups that are developing innovative products that empower Africans to participate in emerging payment ecosystems.

The fund is open to any African start-up at growth stage that has come up with disruptive concepts within the digital commerce payments industry.

“In other words, yes your startup can qualify, provided it can impress the investors,” said Mr Ndichu.