Barclays, Techstars open global applications to fintech entrepreneurs

JOHANNESBURG, South Africa, 29 November 2016,-/African Media Agency (AMA)/- Applications have opened for the Barclays Accelerator programme, powered by Techstars, an initiative aimed at uncovering the next M-Pesa or Paypal by working with exceptional fintech entrepreneurs innovating Africa's financial services industry.

This collaboration between Barclays Africa and Techstars offers a game-changing opportunity to 10 qualifying fintech startups, which will take part in a 13-week programme beginning in May next year, based out of the Rise fintech innovation hub in Woodstock, Cape Town.

The Barclays Accelerator first came to Africa at the beginning of this year and was a significant success, with Barclays Africa signing initial collaboration agreements with 7 of the 10 startups that were part of the programme.

Yasaman Hadjibashi, leading the innovation agenda for the bank says: “Africa has tremendous untapped potential to not only pioneer its own creative solutions for its unique contexts but to also create solutions that the rest of the world can adopt for their own contexts.”

According to the Disrupt Africa African Startups Funding Report 2015, 29% of investment in African tech startups goes to those focused on fintech, suggesting a substantial opportunity for innovative ventures in the sector.

Selected startups will be given the opportunity to enter or expand their presence in the African marketplace via Barclays Africa Group's customer, product, and technology teams. Leveraging the global footprint of Rise, the selected startups will also have the chance to scale globally through Rise sites in London, New York, Mumbai, Tel Aviv and Vilnius. The Accelerator offers companies an advantage over others by providing a proven curriculum, and lifelong access to the Techstars global network of mentors, investors and venture capitalists.

Yossi Hasson, Managing Director of Techstars says: “I truly believe that being part of Techstars gives companies such an advantage when it comes to scaling globally. The depth of experience that the Techstars team and global mentor network has in working with and investing in over 900 start-ups is unprecedented for the African continent. The Accelerator pushes for one year's worth of traction in three months. At the end, your company won't come out the same, regardless of stage.”

Fintech companies can apply here: https://www.f6s.com/barclaysaccelerator-africa by February 5th, 2017 for this opportunity to take their venture to new heights. If you'd like to find out more, please visit: http://www.barclaysaccelerator.com/#/cape-town/ or contact emily.skinstad@techstars.com

Distributed by African Media Agency (AMA) on behalf of Barclays Africa.

For more information please contact:
Carli Cooke
Barclays Africa Group Media Relations
011 350 3625
083 651 7371
carli.cooke@absa.co.za

About Barclays Africa Group
Barclays Africa Group Limited (“Barclays Africa” or “the Group”) is listed on the Johannesburg Stock Exchange and is one of Africa's largest financial services groups. Barclays Africa is 50.1% owned by Barclays Bank PLC (“Barclays PLC”).

Barclays Africa is uniquely positioned as a fully local, fully regional and fully international bank, offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management and insurance.

The Group operates in 12 countries with approximately 40 thousand employees, serving more than 12 million customers.

The Group registered head office is in Johannesburg, South Africa and owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Barclays Bank Tanzania and National Bank of Commerce), Uganda and Zambia. The Group also has representative offices in Namibia and Nigeria.

Barclays PLC has operations in Egypt and Zimbabwe which continue to be operated by Barclays Africa.
For further information about Barclays Africa, please visit www.barclaysafrica.com.

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