South African Bank Partners With Fintech Accelerator Firm

Robbie Lawther

22 September 2017

South Africa-based accelerator programme as a partner.

The Johannesburg-headquartered bank joins several financial services companies as INV partners. Standard will aid in opening the gateway to the African fintech market for INV’s startups, INV said in a statement.

As part of its agreement, Standard Bank will participate in the accelerator activities of INV Fintech, including considering startups in the accelerator for investment, market trials and/or acquisition. Investments will be made on a case-by-case basis. Standard Bank also commits to providing mentorship to startups in the INV accelerator, which was launched in 2015.

“We are excited to partner with INV Fintech in their accelerator program,” said Peter Schlebusch, Standard Bank Group chief executive of personal and business banking. “In a world that changes at an incredible pace, exposure to new start-ups and emerging technologies enables Standard Bank to learn and expose Africa to new technologies to drive her growth.”

INV Fintech is an accelerator for post-seed stage startups that provide financial services products and solutions.