12 African startups selected for ARM Labs Lagos Techstars cohort 1

Following its launch in April 2021, ARM Labs Techstars Lagos Accelerator admitted 12 African startups for the pioneering batch of the three-month program focused on early-stage fintech and proptech startups based in Africa.

The inaugural cohort is made up of 10 Nigerian startups and two Kenyan startups, with 50% female CEOs. “It’s a decision of our belief in the teams; their product, their market and their traction,” Oyin Solebo, MD at ARM Labs Lagos Techstars, told on a call.

According to her, Nigeria is arguably the most active and largest ecosystem, so it is only fitting that more startups come from this West African country. “From the applications we received, these 12 were the best. However, the next cohorts will be more diverse. My vision is for Techstars to be in multiple cities across Africa,” she added.

“Lagos has built a thriving startup ecosystem that deserves more global exposure, investment, and resources, and we see tremendous potential in the market.”—Nancy Wolff, Managing Director, Techstars.

Each of the selected startups will receive up to $120,000, along with curated startup programming and access to Techstars’ extensive network of over 7,000 mentors, over 20,000 investors, alumni, and business partners.

The batch of pioneers who began in December 2022 have had engagements with over 100 mentors and speakers, including Tunde Kehinde; co-founder and CEO, Lidya, Bode Abifarin; chief operating officer, Flutterwave, Fara Ashiru Jituboh; Founder and CEO, Okra and Amandine Lobelle; COO, Payroll. The demonstration day will take place in Lagos on March 16, 2023.

Check Out the Inaugural Batch of ARM Labs Accelerator Lagos Techstars

Speaking on the choice of sectors, in particular fintech and proptech startups, Ms Solebo said “it is an assessment of where there is market potential. This is a partnership program with ARM Labs, real estate and financial services are where much of their expertise and network is.”

However, she noted that the Lagos-based accelerator may diversify its investments into other sectors in the coming years. The Lagos-based Techstars accelerator is designed to run for three years, investing in 36 startups across three batches.

Below is the inaugural cohort of the ARM Labs Lagos Techstars Accelerator Program:


alphabloQ is a real estate investment platform founded by Trevor Kimani and John Mbui. The startup’s mission is simple: reduce the barrier of entry for real estate investors by allowing investors to purchase a fraction of income-generating properties., founded by Banky Alao, Bridget Yadua-Soremekun and Emmanuel Obute, makes shopping on social platforms safer for Africans through the use of payment protection.

“Being accepted into the Techstars Accelerator was an unmistakable validation of,” said Banky Alao, CEO of, a fintech services company dedicated to payment protection. “The program has set us on a path to exponential growth and impact. Absolutely the best thing that has ever happened to us.”


CDcare makes it easy for Africans to own interest-free gadgets, appliances, cars and more with smart installment plans. The company was founded by Tobi Odukoya and Deji Farohun.


Founded by Ebby Gatamu and Kibe John, Cladfy provides microfinance lenders with credit profiling, digitized loan management, and access to affordable and reliable funding.

“I am delighted with our selection into the Techstars family because traditionally, as an African fintech founder, the odds are often stacked against you,” said Ebby Gatamu, co-founder of Cladfy. “This program not only taught us to focus on the problem and our customers, but also led us to meet and interact with phenomenal people we might never have met otherwise.”


Flick builds PayPal for Africa; allowing users to connect multiple bank accounts and pay directly from one source, making payments 7x faster. Ruth Olojede and Dipo Gbadebo are the founders of the company.


Keble, founded by Emmanuel Oballa, Agulanna Josemaria, Adebisi Borokinni and Valentine Offiah, enables Africans at home and abroad to buy fractions of global real estate for as little as $10.

Keza Africa

Keza powers smartphone financing by allowing people to purchase new and certified pre-owned smartphones on a flexible payment plan. Keza Africa was founded by Aisha Hussaini.


Salad was founded by Chikodi Ukaiwe and Seunfunmi Omotunde and provides employees with access to financial services and benefits beyond their monthly salary.

side brief

Sidebrief simplifies the process of starting and growing a business across borders, with its one-stop solution for registration, banking, and regulatory compliance. The company was founded by Eunice Olopade, Abdulwaheed Yusuf and Usman Sotunde.

talk about town

Towntalk, founded by Folake Edun, Disun Vera-Cruz and Tomiwa Erinosho, built Area!-a protection platform giving businesses peace of mind when moving goods and people from point A to point B, by providing real-time location and behavior analytics, vehicle tracking and access to insurers.


Vittas is a digital lender for healthcare providers, using machine learning, partnerships and integrated third-party SaaS solutions to provide loans for the purchase of medicines and medical equipment. Vittas was founded by Sulav Singh, Collins Uche and Eric Okemmadu.

Oyster Finance

Founded by Ifedolapo Lawal, Olusola Onajobi and Omotayo Iginla, Oystr is democratizing credit in Africa. The company provides lenders with an infrastructure to help them launch low-risk microcredit products, grow their portfolios, and enter new markets in less than 30 minutes.

Related article: An analysis of Techstars investments in Africa since 2015

“The excitement of supporting an acceleration program lies in the potential to ignite the spark of innovation and watch it ignite into a blazing fire of impact and change. As ARM partners with Techstars to launch an accelerator program that provides funding, mentorship and access to networks and resources, our goal is to unearth the next set of unicorns out of Africa,” said Ina Alogwu, Group Director, Digital Transformation , ARMHoldCo, in a statement shared with