2 Nigerian Startups Join SOSV’s Orbit Startups Programme, Bag $180k Each

The 10 firms selected for its initial cohort by Orbit Startups, a new initiative from US venture capital firm SOSV, include two from Nigeria.

Orbit combines the already-existing SOSV programs Chinaccelerator and MOX and reflects their recent geographic expansion into Southeast and South Asia, the Middle East, Africa, and Latin America.

GetFundedAfrica, a platform that uses media and technology to assist entrepreneurs across Africa in finding funding, and Kredi Bank, a full-service digital bank creating a one-stop-shop for digital financial services in Africa, are the two Nigerian firms that were chosen. The other chosen startups were from Singapore, Pakistan, and India.

Each of the firms has received a start-up investment of roughly $180,000 and access to a comprehensive program that promotes their expansion throughout emerging and frontier markets.

William Bao Bean, general partner at SOSV and managing director of Orbit Startups, stated: “We are eager to scale breakthrough startups from around the world across emerging and frontier markets, where there are more inefficiencies, fewer legacy industries, and the most opportunities for aggressive growth.

“Orbit selects tech players that have the potential to change millions of lives at once, including companies tackling enormous issues in logistics, banking, media, healthcare, and other fields, as well as entrepreneurs preparing the local economy for the future through digitalization.”