More
    HomeEcosystem NewsLatest FundingDFS Lab is Backing African Startups, Thanks to a Partnership with Stellar...

    DFS Lab is Backing African Startups, Thanks to a Partnership with Stellar Development Foundation

    Published on

    spot_img

    DFS Lab and the Stellar Development Foundation have initiated the DFS Lab Stellar Africa Fund I, aiming to bolster innovation in Africa’s blockchain sphere. Shiga Digital Inc., a Nigerian blockchain startup focused on refining financial services for wallet holders, has secured funding through this partnership.

    The DFS Lab Stellar Africa Fund I, backed by both organizations, targets promising startups in Africa leveraging the Stellar network. Shiga Digital Inc.’s selection underscores its commitment to simplifying access to blockchain-based financial services.

    The fund offers initial investments of up to $100,000 to pre-seed and seed-stage teams, particularly those addressing fiat-crypto ramps and cross-border payments. In addition to financial support, selected startups gain access to mentorship from Stellar ecosystem experts.

    Eligible startups must meet specific criteria, including targeting African markets, incorporation in the United States or plans to do so, and integration plans with the Stellar blockchain network. Compliance with ethical and legal standards is also required.

    Shiga Digital Inc. aims to empower wallet holders by leveraging the Stellar blockchain’s global network and Soroban smart contracts wallet technology. The startup claims to have processed over $51 million USD in transaction volume, reflecting its potential impact in Africa’s blockchain landscape. 

    Latest articles

    $500K Up for Grabs: Moroccan Diaspora’s MFounders Targets High-Potential Startups

    The club will focus on startups requiring initial funding between $50,000 and $500,000, addressing a critical need in the funding landscape for early-stage ventures.

    Nigerian Stocks Go Mobile: NGX Invest Opens Stock Market to Everyone

    The platform’s launch is timely, coinciding with the Central Bank of Nigeria’s (CBN) recapitalization directive, which has spurred numerous offers for subscription and rights announcements by Nigerian banks.

    South African Safetech Startup AURA Raises $1.1M Bridge Round to Democratize Safety

    The technology platform enables users to access the nearest vetted private security and medical response units through connected devices.

    Fuzé Investment Series: Togolese Media Startup Makifaa Secures Funding

    Founded in in 2023 by Doris DJAGLO and Jean Pignan, Makifaa’s unique approach blends the creative talents of local photographers with cutting-edge artificial intelligence (AI) to deliver personalized media solutions within an impressive 48-hour timeframe.

    More like this

    $500K Up for Grabs: Moroccan Diaspora’s MFounders Targets High-Potential Startups

    The club will focus on startups requiring initial funding between $50,000 and $500,000, addressing a critical need in the funding landscape for early-stage ventures.

    Nigerian Stocks Go Mobile: NGX Invest Opens Stock Market to Everyone

    The platform’s launch is timely, coinciding with the Central Bank of Nigeria’s (CBN) recapitalization directive, which has spurred numerous offers for subscription and rights announcements by Nigerian banks.

    South African Safetech Startup AURA Raises $1.1M Bridge Round to Democratize Safety

    The technology platform enables users to access the nearest vetted private security and medical response units through connected devices.