Catalyst Fund has raised $3.5 million from FSD Africa, seeking to accelerate and scale Pre-Seed Impact Ventures in Africa.
With FSD Africa’s backing, Catalyst Fund will invest and offer hands-on venture building support to high-impact startups that improve the resilience of underserved and climate-vulnerable communities, with a goal to support 40 pre-seed impact ventures in Africa.
The accelerator will also continue to build strong innovation ecosystems by activating investors, capacity building networks, and corporate innovators to unlock capital, attract talent and share knowledge about fintech solutions tailored to those communities’ needs.
To date, Catalyst Fund has backed 61 startups across emerging markets that have together raised more than $573 million in follow-on funding and reached over 13.2 million low-income customers.
The next cohort of startups will feature fintech solutions that build the resilience of underserved and climate vulnerable communities in emerging markets.