Wij willen met u aan tafel zitten en in een openhartig gesprek uitvinden welke uitdagingen en vragen er bij u spelen om zo, gezamelijk, tot een beste oplossing te komen. Oftewel, hoe kan de techniek u ondersteunen in plaats van dat u de techniek moet ondersteunen.

The Catalyst Fund has gained $ 15 million in new support from JP Morgan and UK Aid and will back 30 fintech startups in Africa, Asia, and Latin America over the next three years.

The Boston based accelerator provides mentorship and non-equity funding to early-stage tech ventures focused on driving financial inclusion in emerging and frontier markets.

That means connecting people who may not have access to basic financial services — like a bank account, credit or lending options — to those products.

Catalyst Fund will choose an annual cohort of 10 fintech startups in five designated countries: Kenya, Nigeria, South Africa, India and Mexico. Those selected will gain grant-funds and go through a six-month accelerator program. The details of that and how to apply are found here.

“We’re offering grants of up to $ 100,000 to early-stage companies, plus venture building support…and really…putting these companies on a path to product market fit,” Catalyst Fund Director Maelis Carraro told TechCrunch.

Program participants gain exposure to the fund’s investor networks and investor advisory committee, that include Accion and 500 Startups. With the $ 15 million Catalyst Fund will also make some additions to its network of global partners that support the accelerator program. Names will be forthcoming, but Carraro, was able to disclose that India’s Yes Bank and University of Cambridge are among them.

Catalyst fund has already accelerated 25 startups through its program. Companies, such as African payments venture ChipperCash and SokoWatch — an East African B2B e-commerce startup for informal retailers — have gone on to raise seven-figure rounds and expand to new markets.

Those are kinds of business moves Catalyst Fund aims to spur with its program. The accelerator was founded in 2016, backed by JP Morgan and the Bill & Melinda Gates Foundation.

Catalyst Fund is now supported and managed by Rockefeller Philanthropy Advisors and global tech consulting firm BFA.

African fintech startups have dominated the accelerator’s startups, comprising 56% of the portfolio into 2019.

That trend continued with Catalyst Fund’s most recent cohort, where five of six fintech ventures — Pesakit, Kwara, Cowrywise, Meerkat and Spoon — are African and one, agtech credit startup Farmart, operates in India.

The draw to Africa is because the continent demonstrates some of the greatest need for Catalyst Fund’s financial inclusion mission.

By several estimates, Africa is home to the largest share of the world’s unbanked population and has a sizable number of underbanked consumers and SMEs.

Roughly 66% of Sub-Saharan Africa’s 1 billion people don’t have a bank account, according to World Bank data.

Collectively, these numbers have led to the bulk of Africa’s VC funding going to thousands of fintech startups attempting to scale finance solutions on the continent.

Digital finance in Africa has also caught the attention of notable outside names. Twitter/Square CEO Jack Dorsey recently took an interest in Africa’s cryptocurrency potential and Wall Street giant Goldman Sachs has invested in fintech related startups on the continent.

This lends to the question of JP Morgan’s interests vis-a-vis Catalyst Fund and Africa’s financial sector.

For now, JP Morgan doesn’t have plans to invest directly in Africa startups and is taking a long-view in its support of the accelerator, according to Colleen Briggs — JP Morgan’s Head of Community Innovation

“We find financial health and financial inclusion is a…cornerstone for inclusive growth…For us if you care about a stable economy, you have to start with financial inclusion,” said Briggs, who also oversees the Catalyst Fund.

This take aligns with JP Morgan’s 2019 announcement of a $ 125 million, philanthropic, five-year global commitment to improve financial health in the U.S. and globally.

More recently, JP Morgan Chase posted some of the strongest financial results on Wall Street, with Q4 profits of $ 2.9 billion. It’ll be worth following if the company shifts any of its income-generating prowess to business and venture funding activities in Catalyst Fund markets like Nigeria, India and Mexico.


TechCrunch

Welcome back to This Week in Apps, the Extra Crunch series that recaps the latest OS news, the applications they support and the money that flows through it all.

The app industry is as hot as ever with a record 203 billion downloads in 2019 and $ 119 billion in consumer spending, according to preliminary year-end data by App Annie. People spend 90% of their mobile time in apps and more time using their mobile devices than watching TV. Apps aren’t just a way to waste idle hours — they’re big business, one that often seems to change overnight.

In this Extra Crunch series, we help you to keep up with the latest news from the world of apps, delivered on a weekly basis.

This week, we’re back to look at the latest headlines from the app world, including Apple’s record holiday 2019 on the App Store, a look at the staying power of AR hit, Pokémon Go, how the app stores handled a UAE spying tool, stalled Instagram growth in the U.S., and more.


TechCrunch

The final installment of the sequel trilogy is getting a lot of creative promotion — even by Star Wars standards. With The Rise of Skywalker out in just under a week, J.J. Abrams (and some spotty server issues) paid a visit to Fortnite. The director showed off an exclusive clip from the upcoming film featuring the familiar trio of Rey, Finn and Poe Dameron.

That and watching a bunch of stormtroopers dance around is all well and good, but the real fun came next. Darth Galactic Empire Lord Palpatine-Sidious kicked off a final segment that found players rushing to grab the latest Fortnite weapon: a lightsaber.

As The Verge notes, there are a bunch of other in-game Star Wars challenges added to the title as part of the promo, but honestly, lightsabers. Just lightsabers. The game now sports a variety of different colors of the iconic kyber crystal-powered weapon, including a crossguard version like the kind sported by Kylo Ren in the new films.

The lead up to the film has seen a slew of different Star Wars add-ons, including skins of Stormtroopers, main characters Rey and Finn and a TIE Interceptor-style glider.


TechCrunch

Toggle, a Brooklyn-based robotics startup, announced today that it scored $ 3 million in seed funding. The early-stage round was led by Point72 Ventures’ AI Group, with participation from Mark Cuban and VC Twenty Seven Ventures. The series follows a 2018 pre-seed round of $ 570,000 from its Urban-X accelerator, Urban Us, Accelerate NY / Empire State Development and Perl Street Capital.

The 15-person startup creates robotics that fabricate and assemble rebar. It’s designed to work in tandem with existing robotics and steel fabrication technologies, while speeding up the process up to 15 times, by the company’s count.

Toggle has already begun a soft launch “for a wide range of projects in New York City and the surrounding area,” according to the company. It expects to ramp up toward commercial production over the course of the next year and a half. CEO Daniel Blank tells TechCrunch that the seed round will be used toward R&D and growing the Toggle team.

“This funding will be used to further develop our technology — both the hardware and software — around assembly and fabrication automation, as well as grow the engineering team that supports this development,” Blank tells TechCrunch. “The funding also provides us with a strong foundation for our manufacturing operation which is already supplying services and materials to customers in New York City and the surrounding region.”


TechCrunch

In way, these new wireless controllers from 8BitDo kind of defeat the purpose of the Switch Lite. So, why do I kind of want them? Honestly, I’m pretty enamored with the new, more portable version of Nintendo’s wildly successful console. As I noted in a recent review, it’s exactly the take on the Switch I was looking for as a TV-less frequent traveler.

The idea of an accessory that’s roughly half the size of the Lite kind of goes against the whole bit about “built-in” Joy-Cons. Also, the Lite doesn’t have a built-in kickstand, so you’re either finding a way to prop it up or playing it flat on a table. Neither scenario is ideal, and yet here I am, thinking about shelling out $ 25 to augment my setup with a matching turquoise version.

Life comes at you fast.

The controller actually sports two D-pads, rather than sticks, which is nice for all of those NES and SNES titles that have been added to Switch Online. Honestly, my Switch playing has been like 95 percent A Link to the Past since I started testing the Lite. The controller is up for pre-order now through Amazon and set to start shipping at the end of October — plenty of time for me to come to my senses.

 

 


TechCrunch

YouTube star Kanghua Ren was just handed a 15 month prison sentence and 20,000 euro ($ 22,300) fine for a January 2017 video.

The video, which generated widespread outrage online, found Ren giving a homeless man in Barcelona repackaged Oreo cookies filled with toothpaste.

“Maybe I’ve gone a bit far, but look at the positive side: This will help him clean his teeth,” the China-born YouTuber (then 19) known as ReSet said in the video. “I think he hasn’t cleaned them since he became poor.”

The 52-year-old man vomited after ingesting the cookies, later telling a paper that he had, “never been treated so poorly while living on the street.”

Ren was given the sentence on Friday, though The New York Times notes that he’ll likely not actually serve any time, given how nonviolent crimes are generally treated in Spanish court. In addition, his YouTube channel and various social media counts were also ordered shut down for five years.


TechCrunch

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