Kenyan startup, Money254 bags MIT Fintech Conference startup pitch competition
The Massachusetts Institute of Technology (MIT) Fintech Conference has announced the grand prize winner of its 2022 Fintech Startup Pitch Competition as Kenyan startup Money254.
Money254 is a financial services comparison platform that will be launched in April 2021, making it easier for users to find, compare, and apply for financial products that meet both their needs and eligibility.
Money254 users can search and apply for financial products such as personal loans, business loans, and savings accounts from a variety of leading banks, microfinance institutions, and digital apps – all from the comfort of their own homes – by combining independent financial product research with partnerships across leading institutions.
The MIT Fintech Conference is one of the world’s largest student-led conferences, bringing together over 1,000 participants from over 60 countries to discuss financial technology innovation and disruption. Money254 was chosen as one of eight startups to pitch at the event, and was eventually named the winner, receiving US$30,000 in prize money.
The recognition, according to CEO and co-founder Lorcan O Cathain, is a boost to the startup’s goal of improving transparency in the financial services sector.
“At Money254, we’re creating a one-stop shop for Kenyans to learn about, manage, and transfer their money between the financial institutions and products that make the most sense for them.” “We are deeply humbled and excited for what the future holds for the company,” he said.
Enza Capital, Perivoli Innovations, Sherpa Capital, and Ground Squirrel Ventures are among the international and local investors who have backed Money254.
