AlphaCode Awards USD 160 K, Support To Pandemic-Founded Tech Startups

Five South African startups founded during the COVID-19 pandemic have gained access to a total of ZAR2.5 million (USD 160 K) at the culmination of the AlphaCode Incubate program. AlphaCode Incubate awards entrepreneurial packages to South Africa’s most promising financial services startups through AlphaCode with the support of Rand Merchant Investments. 

Five startups were selected to receive ZAR500,000 (USD 32 K) grant funding each, an additional six months of mentorship, and expert execution support. In addition, these startups will be able to apply for seed capital from AlphaCode’s fund. They include mobile payments platform Abela, legal cost consultancy BriefCo, stokvel management platform Sizanani, data-tech startup Vocalysd, and e-health company Welo.