Cloud accounting startup, Accounteer, came first in the MEST Africa Challenge which held on Saturday at the MEST Africa’s Lagos incubator in Ikoyi. They emerged winner amongst seven other non-MEST startups. As a result of this, Accounteer is guaranteed a place at the MEST Africa Summit in Cape Town which would come up in June. They would also be given a chance to compete for $50,000 in equity investment.
Basically, what Accounteer does is allow small business owners create invoices, track expenses, and also follow up on their finances online without the fear of losing their records or the stress of spending so much time on manual processes. This they do for as low as $10 per month. Many businesses have found this tool very useful as it puts to bed their worry about the accounting aspect of the business.
The other seven competitors in which FinTech startups were dominant includes:
*Nebula Pay, a conversational payments platform available on Skype and Facebook;
*OsusuMobile, a fintech startup that provides microloans and microsavings to small-scale entrepreneurs through their mobile phones;
*OVG Media, a digital video platform that offers high-quality content produced for the Africa market;
*Wallet, a software that lets you perform monetary transactions using your phone number.
*OyaPay, which allows users perform monetary transactions with QR codes, even if they do not have cash or a card in hand;
*PayPass, a universal ticket purchase platform;
*Jara, a platform that partners with retailers to reward users and shoppers with discounts; and
The competition was held simultaneously in Accra, while another one held in Nairobi, Kenya on April 30, 2018.