BFA Global and FSD Africa announce the creation of a unique startup launcher, TECA (Triggering Exponential Climate Action). The launcher will create fintech startups with solutions that enable climate resilience in the world’s most vulnerable communities, with an initial focus on Africa.
With FSD Africa’s $3.3 million investment over 4 years, TECA will support pioneering entrepreneurs from idea stage to launch, expanding the pipeline of fintech investment opportunities for the climate resilience space. FSD Africa’s support will also accelerate the ecosystem around the companies by engaging with multiple stakeholders to unlock capital, attract talent, and create proof points to drive more innovation for climate resilience.
Juliet Munro, Director of Digital Economy at FSD Africa, said, “At FSD Africa, we believe that a strong, equitable, and accessible financial system is crucial to a sustainable future for Africans and their environment. In particular, we believe that finance can play a major role in addressing climate vulnerability and that by harnessing the power of fintech innovation, we can help overcome market barriers to delivering much-needed climate resilience solutions (…) Our partnership with BFA Global on TECA aims to address this issue by creating, investing in, and growing a pipeline of climate resilience companies, while helping to influence and expand the investment pool in this space.”