Six African startups have been awarded a combined $400,000 through the 2025 FINCA Ventures Prize Competition, a flagship initiative designed to support entrepreneurs tackling poverty through climate-smart agriculture and financial inclusion. This year’s edition attracted over 300 applicants from across the continent, underscoring the growing demand for catalytic funding among early-stage ventures. The winners were celebrated in San Francisco following a final pitching event broadcast live online.
Celebrating Bold African Innovation
The competition highlighted the creativity and resilience of African entrepreneurs who are building locally grounded solutions to some of the continent’s toughest challenges. According to Andrée Simon, Global CEO of FINCA, the Prize is about equipping founders with resources that accelerate growth and open critical doors to partnerships. She emphasized that support must match the ambition of innovators working on transformative social and economic solutions.
Structure of the Competition
Applications were divided into two categories: climate-smart agriculture and fintech for financial inclusion. First-place winners in each category received $100,000, while second- and third-place winners earned $60,000 and $40,000, respectively. This tiered approach ensured multiple ventures could access both funding and global visibility to advance their missions.
The Finalists and Judging Panel
The six finalists, five of them women-led, pitched to an esteemed panel representing impact investing, venture capital, and innovation. Judges included FINCA International Board Chair David Weisman, FINCA UK Board Member Alex Yew, RiAdvantage Consulting’s Christopher Gilkerson, ResilienceVC’s Tahira Dosani, and Better Food Ventures founder Rob Trice. The winners were revealed on September 16 during an award celebration in San Francisco.
Beyond the Prize Money
In addition to funding, finalists gained access to mentorship, expert feedback, and international networks. Winnie Mwangi, Managing Director of FINCA Ventures, stressed the importance of connecting African entrepreneurs to global ecosystems that provide knowledge, capital, and visibility. Such non-financial support is often as critical as the initial seed funding in enabling startups to scale.
First-Place Winners
In climate-smart agriculture, Esther Kimani, founder of Kenya’s Farmer Lifeline Technologies, secured $100,000 for her AI-powered devices that detect crop pests and diseases before they spread. The technology, which runs on solar energy, empowers farmers with real-time alerts and actionable insights. Kimani noted that patient capital will allow the company to invest in R&D and expand into new markets.
In fintech, Nigeria’s truQ, founded by Foluso Ojo, took the top spot with its digital platform connecting small-scale drivers to credit, digital tools, and better-paying jobs. The platform addresses inefficiencies in Nigeria’s vast informal transport sector. Ojo described the prize as both validation of the company’s mission and a major enabler for expansion.
Second- and Third-Place Ventures
Kenya’s Silo Africa, co-founded by Eliud Rugut, won second place in climate-smart agriculture for its smart grain silos equipped with IoT sensors that help farmers safeguard harvests and link directly to buyers. Uganda’s Karpolax, led by co-founder Samuel Muyita, earned third place with its plant-based sachets that extend fruit shelf life without refrigeration.
In fintech, Kenya’s Cladfy, founded by Ebby Gatamu and Kibe John, claimed second place for automating credit profiling and linking microlenders to capital, thereby serving overlooked microbusinesses. Nigeria’s 10mg Health, founded by Christian Nwachukwu, took third place for its AI-driven platform providing instant, collateral-free loans to clinics and pharmacies to ensure the availability of essential medicines.
Addressing Funding Gaps
The Prize comes at a time when Africa’s venture capital ecosystem is under strain, with funding volumes dropping more than 50% in 2024. Women-led startups remain particularly underserved, attracting less than 10% of total investment. By offering risk-tolerant, early-stage capital, FINCA Ventures aims to bridge these gaps and empower solutions that address poverty, climate change, and financial exclusion.
The 2025 FINCA Ventures Prize reinforced the critical role of catalytic capital in unlocking Africa’s entrepreneurial potential. By backing innovative solutions in agriculture and financial inclusion, the competition not only fuels individual ventures but also strengthens the broader ecosystem. As Simon highlighted, Africa’s young and dynamic population represents vast opportunity, and continued investment is essential to building a more inclusive and prosperous future.