Six African startups secure $400,000 in FINCA Ventures Competition

Early-stage ventures in climate-smart agriculture and fintech receive catalytic funding and global exposure through FINCA Ventures’ flagship prize.

Six African startups have been awarded a total of $400,000 in the 2025 FINCA Ventures Prize, an initiative that backs entrepreneurs using innovation to tackle poverty through agriculture and financial inclusion. FINCA Ventures, the impact investing arm of FINCA International, supports early-stage companies with both capital and expertise to accelerate scalable solutions across emerging markets.

This year’s edition attracted over 300 applicants from across the continent, culminating in a live pitching final and award ceremony in San Francisco. Winners received not only tiered financial prizes, $100,000 for first place, $60,000 for second, and $40,000 for third, but also access to mentorship, global networks, and visibility within the impact investing ecosystem.

In climate-smart agriculture, Kenya’s Farmer Lifeline Technologies, led by Esther Kimani, secured first place for its solar-powered, AI-driven devices that detect crop pests and diseases early, providing farmers with real-time alerts. In fintech, Nigeria’s truQ, founded by Foluso Ojo, earned the top prize for its platform that connects small-scale drivers to credit, digital tools, and better-paying jobs in the informal transport sector.

Second- and third-place awards went to ventures addressing post-harvest storage, fruit preservation, microcredit automation, and financing for essential medicines. Notably, five of the six winning companies are women-led, underscoring the Prize’s role in bridging gender gaps in Africa’s venture funding landscape.

The competition comes at a time when African startups are facing a downturn in venture capital investment, with volumes halved in 2024 and women founders receiving less than 10% of available capital. By providing patient, risk-tolerant funding, FINCA Ventures aims to help entrepreneurs build resilience, scale innovations, and unlock opportunities for inclusive growth across the continent.