Application Opens for a $1M Initiative by DFS Lab to Support FinTech Entrepreneurs in Africa

DFS Lab, a fintech accelerator funded by the Bill and Melinda Gates Foundation, recently announced they were accepting
applications for their third fintech bootcamp, which will be held Dec. 3-9,2017 in Dar es Salaam, Tanzania. The Lab seeks to identify promising
entrepreneurs and invest in companies that focus specifically on consumers in Sub-Saharan Africa and South Asia. More than USD 1M in funding is available for investment, and entrepreneurs with the most innovative solutions will receive up to USD 50K in funding and six months in DFS Lab’s proven approach accelerator.

“We are excited to have the opportunity to invest in breakthrough technologies that can help reach the billions of people in South Asia and
Africa who lack financial services,” said DFS Lab Director Dr. Jake Kendall.“Our goal is to identify, invest, and work with early-stage companies who are building transformative technologies that will help improve the lives of unbanked citizens.”

Since launching in 2015, DFS Lab has invested more than in 18 startups. The Lab is currently interested in entrepreneurs that are creating solutions for customers that function on non-smartphones, as well as new approaches for closing the financial services gender gap. But they encourage applications from any great team with a breakthrough idea.

Over the past year, finalists in previous cohorts representing companies headquartered in Africa and South Asia went through intensive 1-week boot camp programs in Tanzania and Sri Lanka. In addition to financing, the companies selected receive six months of intense mentorship and integration into a global network of top experts who have agreed to advise them. This will be the third cohort DFS Lab has supported — a significant milestone as the program has grown in size and scope.

About DFS Lab

DFS Lab is an early-stage accelerator that supports high potential entrepreneurs refine, grow and launch fintech businesses in developing
countries. Focused on empowering communities in sub-Saharan Africa and South Asia, DFS Lab delivers mentorship and strategic advice to early-stage start-ups pioneering transformative technologies that empower the poorest, profitably and at scale.

Entrepreneurs who wish to be considered should apply to DFS Lab Bootcamp Three by Nov. 3, 2017