Nine startups from the inaugural cohort of the Safaricom Spark Accelerator Program participated in an investor demo day on Friday.
This event marked the culmination of their program participation and was a milestone for showcasing their achievements and potential to prospective investors.
The investor demo day, the final phase of the accelerator program, aimed to facilitate funding opportunities for the nine startups from leading venture capital funds.
“At Safaricom, we believe technology is a catalyst for change and solutions, and that’s why we incentivize and support innovative startups with the tools they need to reach the next level. Through the Spark Accelerator Program, we are investing in our future leaders while contributing to significant societal change and economic growth,” said Safaricom CEO, Dr. Peter Ndegwa.
The startups, including Health X Africa, Vunapay, BlackRhino VR, Twiva, Chpter, Churpy, Nobuk Africa, Faidi HR, and Chumz, represent the future of embedded finance, SME productivity tools, digital content, healthcare, and future fintech.
These startups have grown significantly since joining the Spark Accelerator Program in mid-2024.
For example, Chumz has successfully integrated Daraja APIs for payment processing and onboarded 72,000 new customers. Twiva has deployed its mini-app within the M-PESA consumer app, while HealthX and Chpter mini-apps are under review for launch on the M-PESA Consumer and Business apps by April 25, 2025.
Each startup received up to $25,000 in AWS credits for their technology infrastructure.
Under the Access to Market pillar, Twiva conducted a pilot with Masoko, leveraging influencers to drive device sales, resulting in a 20% increase in Masoko’s Gross Merchant Value (GMV).
Twiva’s partnership with Safaricom Hook expanded its influencer base from 15,000 to over 26,000.
BlackRhino partnered with Safaricom Hook for a marketing campaign across 11 universities, which won the “Best Emerging Technology in Marketing Campaign” award at the 2024 MSK Annual Awards Gala.
FaidiHR and Churpy are onboarding onto Safaricom’s Enterprise Business Hub as SaaS partners, gaining access to over 2 million SMEs. HealthX, in partnership with the Digital Services Tribe, is set to launch Afya Daily in April, a health information service providing daily tips and personalized recommendations on non-communicable diseases and mental health.
The Safaricom Spark Accelerator Program, a partnership with Sumitomo Corporation and M-PESA Africa, aims to accelerate the growth and scaling of early-stage startups. Implementing partners include iHub, with support from AWS, Vodacom, and PwC.
Safaricom, Sumitomo Corporation, and M-PESA Africa announced that applications for the second cohort of early-stage startups in technology, fintech, the creative economy, and SME productivity tools will be open from April 1, 2025, to May 15, 2025, at https://www.safaricom.co.ke/sparkaccelerator. This program will offer capacity building, training, bespoke product development, technology support, access to market opportunities, and capital.
Launched in 2024 following the restructuring of Safaricom’s Spark Venture Fund, the program is committed to fostering transformative growth within Kenya’s tech ecosystem by supporting early-stage startups.