Nigerian startup IroFit has been named the winner of the pan-African Ecobank Fintech Challenge, beating off competition from 19 other finalists to win the US$10,000 top prize.
IroFit, which provides a mobile Point of Sale that helps small retailers process card payments in real-time, was also recently a winner of the Innotribe Startup Challenge.
Ecobank launched the fintech challenge in January, and selected 20 finalists to take part in a ceremony at its global headquarters in Lomé, Togo. At that event, IroFit was named overall winner, with fellow Nigerian fintech startups Kudi.ai and Paylater coming in second and third respectively.
The winning solutions will also receive expert mentoring and access to the Ecobank ecosystem, while all finalists have been selected into the Ecobank Fintech Fellowship. The Ecobank Fintech Fellows will benefit from an opportunity to partner with the Ecobank Group that includes the possibility funding worth up to US$500,000, multinational product rollout support, mentoring, and service provider and ecosystem partner deals.
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