African Cryptocurrency Payments Startup, Fliqpay gets into Techstars
The announcement was made in a blog post on the Techstars website by Ray Newal, Managing Director, Techstars Bangalore Accelerator.
The 2020 class of companies accepted into the program consist of 10 startups mostly based in India and operating across different verticals including media, finance, sports-tech, warehousing-
The 10 selected startups were shortlisted after reviewing applications from all over the world.
The 2020 class is the second group of companies at the Techstars Bangalore Accelerator, after last year's inaugural set.
Fliqpay which was the only African startup selected is a cryptocurrency payments processor that enables online and offline businesses in Africa to accept payment in Bitcoin and other cryptocurrencies and get instant settlement in their local currency.
By allowing businesses to get settled in their local currency, Fliqpay is eliminating the concern of price fluctuation that many businesses have about receiving payment in Bitcoin and other cryptocurrencies.
According to Fliqpay, "our solution is aimed at helping businesses to increase their opportunity for growth in Africa and across the world. From the entrepreneur that makes hand made leather bags in Aba, Nigeria to the freelance graphics designer in Nairobi, Kenya, we view ourselves as a facilitator in driving business growth for African entrepreneurs and companies."
CEO of Fliqpay, Wole Ayodele, also added that "we are elated to have been selected for Techstars Bangalore Accelerator and we look forward to leveraging the knowledge and experience of Techstars mentors, alumni and investors."
Fliqpay is a cryptocurrency payment gateway (https://www.fliqpay.com/
Fliqpay was founded in 2019 and has done over $6m in transaction volume.
Techstars is an American accelerator founded in 2006.
Every year, Techstars selects over 300 companies to join a mentorship-driven accelerator, investing $120,000 and providing hands-on mentorship and access to the companies for life. Techstars has accepted less than 1% of startups that have applied to its program.
As of 2019, the company had accepted over 1,600 companies into its programs with a combined market capitalization of $18.2bn USD.
Companies that Techstars has invested in include SendGrid, Digital Ocean, Classpass and Chainalysis.
Page Updated Last on: Mar 06, 2020