BY BODE GBADEBO, Abuja
After 5,000 startup applications received, a Swiss-based investment firm, Seedstars has narrowed down the participants in the largest startup competition in emerging markets to only five finalists from five regions of the world.
A Nigerian startup, Ladda is among the five finalists joining the grand finale slated for May 20, 2021 at 2pm.
LEADERSHIP reports that the Seedstars World Competition is set to award this year’s global winner with the grand prize of $500,000 USD in equity funding and will be broadcasting the big event online together with The Next Web (TNW).
Ladda addresses the problem of poor financial literacy and insufficient ease of access to micro-investment opportunities for low to medium-income earners in Nigeria.
The startup also provides access to investment for retail investors in order to democratise access to investment and provide financial literacy.
The other finalists are Fulfillment Bridge (Tunisia), Pegasi (Venezuela), IMAN (Uzbekistan), and Finology (Malaysia).
In a press statement by the organisers, the Seedstars World lead of Seedstars, Daria Khlopova, said: “These five startups have proven that no matter how difficult times may get, innovation is still at the forefront. We can’t wait to see them at the Grand Finale.”
It will be recalled that in 2013, the Seedstars World Competition was launched to find the most promising early-stage startups and build the largest entrepreneurial community in emerging markets.