2025 FINCA Ventures Prize champions innovation in fintech for financial inclusion and climate-smart agriculture
Six African startups have been awarded a total of $400,000 through the 2025 FINCA Ventures Prize Competition, a flagship initiative of FINCA Ventures. This year’s competition attracted more than 300 applicants from across the continent, with six startups advancing to the final round to compete for catalytic funding to accelerate their impact.
“African entrepreneurs are designing bold, locally grounded solutions to complex challenges,” said Andrée Simon, Global CEO of FINCA. “They deserve support that matches their ambition: resources that accelerate growth, open doors, and amplify their impact.”
The 2025 FINCA Ventures Prize Competition accepted applications in two categories: climate-smart agriculture and fintech for financial inclusion. First-place winners in each category — Esther Kimani, founder of Farmer Lifeline Technologies, and Foluso Ojo, founder of truQ — received $100,000 in catalytic funding, while second- and third-place winners received $60,000 and $40,000, respectively.
A Platform for Innovation and Impact
The six finalists — five of which are founded or co-founded by women — pitched their businesses to an esteemed panel of judges at a virtual livestream event on September 15, and the winners were announced at an award celebration in San Francisco on September 16.
The judging panel represented a diverse cross-section of impact investing, venture capital, fintech, and climate innovation, including leaders such as FINCA International Board Chair David Weisman, FINCA UK Board Member Alex Yew, Christopher Gilkerson of RiAdvantage Consulting, FINCA Ventures Investment Committee Member Tahira Dosani of ResilienceVC, and Rob Trice of Better Food Ventures and The Mixing Bowl, among others.
In addition to catalytic funding, finalists also benefit from expert feedback, strategic introductions, and a platform to elevate their work — support that can be as transformative as the seed money itself. “This is about building an ecosystem that works for African entrepreneurs, by investing in them, but also by connecting them to global networks, mentorship, and opportunity,” said Winnie Mwangi, Managing Director of FINCA Ventures.
To Ojo, whose digital platform connects small-scale transporters to credit, operational tools, and better-paying jobs, winning the FINCA Ventures Prize is a critical vote of confidence. “Getting this kind of support from FINCA goes a very long way — not just as a personal validation of the problems that we’re solving and the solution that we’re providing, but also as a major booster to enable us to make our product and services available to more people,” she said.
Kimani, whose company uses solar-powered devices and AI to detect crop pests and diseases before they spread, underscored the importance of early-stage investment. “With the backing we’re receiving from FINCA, we are so excited,” she said. “This kind of patient capital allows us to invest in research and development, launch into new markets, and even have the right team on board as we look forward to scaling.”
Second-place winners include Silo Africa co-founder Eliud Rugut in climate-smart agriculture and Cladfy co-founders Ebby Gatamu and Kibe John in fintech for financial inclusion. Third-place awards went to Karpolax co-founder Samuel Muyita in climate-smart agriculture and 10mg Health founder Christian Nwachukwu in fintech for financial inclusion
A Critical Moment for African Innovators
The 2025 FINCA Ventures Prize comes at a pivotal moment for Africa’s startup ecosystem, which has faced a sharp decline in venture capital — with funding down more than 50% and under 10% of investment reaching women-led teams in 2024. By providing early-stage, risk-tolerant funding and global visibility, the Prize aims to close this gap and catalyze solutions for the communities most affected by poverty, climate change, and financial exclusion.
“There is a very young, dynamic population in Africa, full of creativity and entrepreneurship,” Simon concluded. “We need to shine a spotlight on these opportunities and attract investors who are interested in innovation, in social change, and in building a more prosperous world.”
2025 FINCA Ventures Prize Award Winners
Category: Climate-Smart Agriculture
FIRST PLACE – $100,000
Website: farmerlifeline.co.ke
Location: Kenya
Founder: Esther Kimani
In Kenya, Farmer Lifeline Technologies is transforming agriculture with solar-powered devices that use AI to detect crop pests and diseases before they spread, giving farmers real-time alerts and actionable insights. Founder Esther Kimani explained how by making agronomic support accessible to those who need it most, the company is helping to protect harvests and strengthen rural livelihoods.
SECOND PLACE – $60,000
Website: siloafrica.com
Location: Kenya
Founders: Eliud Rugut, Nathan Rugut, Koki Sammy
In Kenya, Silo Africa is helping farmers protect their harvests and unlock new income streams with smart grain silos equipped with IoT sensors that monitor crop conditions and connect producers directly to buyers. Founder Eliud Rugut explained how the approach strengthens food systems by combining technology with local manufacturing, job creation, and skills development — especially among women and youth.
THIRD PLACE – $40,000
Website: karpolax.com
Location: Uganda
Founders: Samuel Muyita, Sandra Namboozo
In Uganda, Karpolax is tackling post-harvest food waste with plant-based sachets that slow fruit spoilage without refrigeration. The solution is simple, affordable, and built for the realities of smallholder farming. Founder Samuel Muyita presented how the company is turning wasted harvests into lasting value.
Category: Fintech for Financial Inclusion
FIRST PLACE – $100,000
Website: mytruq.com
Location: Nigeria
Founder: Foluso Ojo
Nigeria’s informal transport sector is vast but underserved. truQ is changing that by giving small-scale drivers access to credit, operational tools, and better-paying jobs. Founder Foluso Ojo presented how the company is building a platform that moves both goods and the industry forward.
SECOND PLACE – $60,000
Website: cladfy.com
Location: Kenya
Founders: Ebby Gatamu, Kibe John
In Kenya, Cladfy is building the infrastructure that microlenders need to reach the informal economy. The company automates credit profiling and connects lenders to capital, making it possible to serve microbusinesses that traditional systems overlook. Founder Ebby Gatamu presented how Cladfy is creating a more inclusive financial landscape, one loan at a time.
THIRD PLACE – $40,000
Website: 10mg.ai
Location: Nigeria
Founder: Christian Nwachukwu
In Nigeria,10mg Health is tackling one of the continent’s most urgent challenges: healthcare financing. The company uses AI to deliver instant, collateral-free loans to clinics and pharmacies, helping providers restock essential medicines without delay. Founder Christian Nwachukwu presented how 10mg Health is building a system where data drives access and no patient is left behind.
