In an effort to bridge the emerging ecosystem for African startups with global investment opportunities, Latitude59, an Estonian premier tech and startup event, has announced the €1 million Latitude Pitch Competition (approximately $1.2 million). Open to early-stage, business-to-business (B2B) African startups, the initiative marks Latitude59’s second consecutive year in Kenya, culminating in a pitch event scheduled for November 28 at the A.S.K. Dome in Nairobi.
The competition is designed to attract high-potential African startups with demonstrated market traction and core teams based on the continent. Organizers will select 10 finalists from the applicant pool, all of whom will undergo rigorous pitch training and mentorship before competing live. The winning team will earn a fast-tracked place in the Latitude59 2025 semi-finals in Tallinn, Estonia, and Latitude59 will cover travel expenses to ensure the selected team’s participation.
Latitude59’s CEO Liisi Org sees this competition as an essential gateway for African startups to showcase their innovation on a global platform. “Last year’s results showed that African startups are competing at the highest level,” Org said. “We are thrilled to be back in Kenya, inviting founders across Africa to present their ventures. This competition is a catalyst for bringing together innovative African entrepreneurs and global investors who are increasingly looking to Africa for growth opportunities.”
The event includes a series of side activities designed to create additional engagement and networking opportunities. Among them is the Investor Day, scheduled on November 27 and November 29, which will connect participating startups with venture capitalists, angel investors, and corporate partners.
This year’s pitch competition builds on the momentum created in 2023 when Latitude59 launched the initiative in Kenya. The first edition’s winner, Chumz.io, a Kenya-based fintech start-up, credits the competition for enhancing its profile and accelerating its growth. Chumz.io’s app uses behavioral nudges and mobile money integration to encourage saving and investing, which, since last year, has led to rapid growth. “Since winning the competition, we have hit 200,000 registered users in Kenya and are now expanding our solution into Rwanda,” shared Samuel Njuguna, CEO and co-founder of Chumz.io. “Our goal is to reach one million users in Kenya by 2026 and to be operational in Uganda, Tanzania, and Botswana by then as well.”
The competition comes amid a surge of investor interest in Africa’s tech sector, particularly in fintech, e-commerce, and health tech. With the event afforded by the Estonian tech event firm, African startups gain exposure to a network of over 2,000 investors and mentors from Europe and beyond, a move that Latitude59 hopes will not only inspire growth but also spotlight the continent’s rising entrepreneurs on the global stage.
Latitude59 has provided a solid foundation for early-stage B2B African startups, a growing segment of the tech ecosystem that is drawing increased attention from global investors. By offering comprehensive mentorship, exposure, and a €1 million prize pool, the Latitude Pitch Competition has become a high-stakes event for African startups to gain visibility, foster connections, and potentially unlock transformative funding and growth opportunities in Europe and beyond.