iNuka Pap was crowned the winner of the Kenyan round of the Seedstars World early-stage startups competition. This startup will get the chance to represent Kenya at the world stage of the competition; the Seedstars Summit set to pit regional winners against each other in a finalist competition to be held in Switzerland. The international finalist winner will walk home with $1 million equity investment.
iNuka Pap Ltd is a VAS proposition to SACCO members that enables them to access amounts of cash advances as well as other consumer services such as prepaid electricity, airtime, and insurance. iNuka Pap also gives users the additional convenience of being able to borrow small cash emergencies quickly, anywhere, and anytime on their mobile wallets.
The first runners up was Mobilized Construction. A startup company providing solutions on how to de-mechanize road maintenance. It achieves that by mobilizing local labor in the building dirt roads that are resilient from effects of weather.
In third place was Ujuzi Software Solutions, a startup providing AML solutions to a broad segment of companies across the financial scene. Its target clients are commercial banks, investment banks, remittance service providers, and forex bureaus among others. Their services tries to address money laundering in Africa.
For the full list of startups that participated in the Seedstars Nairobi competition, which took place last Friday, October 7th, click here.