Cloud-based accounting platform, Accounteer won USD 50 K as equity investment at the MEST Africa Challenge in Cape Town yesterday. This is the maiden investment made by MEST into any startup outside its incubation portfolio.

The pitching competition was held on the finale of MEST Africa Summit which hosted startup ecosystem enablers from across Africa and other geographies.

The four startups to compete for the grand prize were Accounteer from Nigeria, Cowtribe from Ghana, Kenya’s DataIntegrated and South Africa’s SwiftVEE. Accounteer integrates accounting needs of small enterprises from having banking platforms, invoicing and e-commerce functionalities at the same place. It allows its users to create invoices, track expenses and manage finance on its platform.

MEST has been instrumental in shaping up the startup ecosystem in Africa for past ten years. It opened its incubation centre in Cape Town and Lagos last year, spreading its wings to other countries on the continent.

Feature Image Courtesy: MEST