Fintech offers $15,000 grant to startups
Verto, a fintech firm specialising in cross-border payments and banking solutions, has unveiled the Verto Global Business Award, a $15,000 initiative designed to support early-stage startups across Africa.
The programme, which aims to foster international business potential, was announced in a statement on Sunday.
The award, open to startups in Nigeria, Kenya, and South Africa, seeks to identify and nurture businesses with the capacity for global expansion.
Through this initiative, Verto will offer financial backing and valuable networking opportunities to startups demonstrating market impact and innovation.
Applications for the programme opened on February 6, with winners to be selected based on criteria such as market impact, innovation, and growth potential.
To qualify, startups must be no older than two years and show operational reach across multiple markets, including connections to international suppliers, the firm noted.
The top three winners will be announced on October 10, with the first-place recipient awarded $10,000. The runner-up will receive $3,000, and the second runner-up will be granted $2,000 to support their global expansion and cross-border operations.
According to Verto, the award is part of its broader commitment to reducing payment barriers and facilitating seamless global trade, particularly for businesses in emerging markets.
The Chief Executive Officer, Ola Oyetayo, said, “The world today is more connected than ever, and for startups, access to global markets isn’t just an advantage—it’s a game changer.
“Payments are at the heart of this, and, at Verto, we’ve spent years breaking down financial barriers, enabling businesses to send and receive money effortlessly while connecting Africa and other emerging markets to the world.
“The Verto Global Business Award takes this a step further, equipping the next generation of entrepreneurs with the resources and global recognition they need to scale and compete on a global stage.”
According to the World Trade Organisation, 29 per cent of global GDP is now linked to international trade, with this figure steadily rising.
In Africa, intra-continental trade is expected to boost income by $450bn by 2035, highlighting the enormous opportunities available and the growing need for businesses to expand beyond their local markets.
The Verto Global Business Award is designed to help startups tap into this growth, fostering innovation and supporting businesses in Africa’s economic transformation.
Since its launch in 2017, Verto said it has remained at the forefront of facilitating cross-border transactions.
With its cutting-edge technology, the company enables businesses of all sizes to make secure and seamless cross-border payments, convert between 50 currencies at competitive exchange rates, and instantly send and receive money in over 200 countries.
