Meet the Cohort for the Inaugural ARM Labs Lagos Techstars Accelerator Program

ARM Labs Lagos Techstars Accelerator, a Lagos-based program to build early-stage African fintech and proptech startups, is delighted to announce its inaugural class.The cohort is made up of 10 Nigerian and 2 Kenyan startups, with 50% female CEOs. 

The selection process was quite rigorous. Beyond applying, the founders went through several interviews with members of the Techstars global team, and a final interview with Techstars Managing Director, Oyin Solebo and a 15-member screening committee. Some members of this committee included Ashim Octerra – Managing Partner, Octerra Capital, Olumide Soyombo – Voltron Capital, Charlene Chen – Former COO of AZA Finance among others. 

“Since the announcement that Techstars was coming to Lagos, there has been great anticipation about the selection of the inaugural cohort. After a competitive application process, we have chosen entrepreneurs who have the capacity to be exceptional founders, startups that have the potential to be industry leaders, and a cohort that is collectively capable of bringing innovation and change to Africa and the world,” said Techstars’ Managing Director, Oyin Solebo.

“The excitement of supporting an accelerator program lies in the potential to ignite the spark of innovation and watch as it transforms into a blazing fire of impact and change. As ARM partners with Techstars to launch an accelerator program that provides funding, mentorship, and access to networks and resources, our goal is to unearth the next set of Unicorns out of Africa,” said Ina Alogwu, Group Director, Digital Transformation, ARMHoldCo.

The founders officially began the 13-week program on the 5th of December 2022, and have had engagements with over 100 mentors and speakers including Tunde Kehinde – Co-founder & CEO, Lidya, Bode Abifarin- COO, Flutterwave, Fara Ashiru Jituboh – Founder & CEO, Okra and Amandine Lobelle – COO, Paystack.

“I am delighted about our selection into the Techstars family because traditionally, as an African, female, fintech founder, the odds are often stacked against you,” said Ebby Gatamu, Co-founder Cladfy. “This program has not only taught us to focus on the problem and our customers, but also led us to meet and interact with phenomenal people we’d otherwise possibly never have met.”

The accelerator’s investment of up to $120,000 in each startup, as well as training and a vast investor network will be significant in the growth and longevity of the cohorts. Demo day is set for the 16th of March 2023. 

“Being accepted into the Techstars accelerator was an unmistakable validation of peppa.io,” said Banky Alao, CEO of peppa.io, a fintech services company dedicated to payment protection. “The program has set us on a sure path to exponential growth and impact. Absolutely the best thing to happen to us.”

“Techstars’ presence in Lagos–Africa’s startup capital–further validates the continent as a rapidly evolving player in the global tech ecosystem. I could not be more excited to announce the names of the first 12 startups to be selected for the first ARM Labs Lagos Techstars Accelerator,” Solebo shares.

Below is the inaugural cohort of the ARM Labs Lagos Techstars Accelerator:

alphabloQ (Nairobi, Kenya)

alphabloQ is a real estate investment platform founded by Trevor Kimani and John Mbui. The startup’s mission is simple – to reduce the entry barrier for real estate investors by enabling investors to purchase a fraction of income-generating properties.

Peppa.io (Lagos, Nigeria)

peppa.io, founded byBanky Alao, Bridget Yadua-Soremekun and Emmanuel Obute, is making it safer to buy on social platforms for Africans through the use of payment protection.

CDcare (Lagos, Nigeria)

CDcare is making it easy for Africans to own gadgets, appliances, cars and more at zero interest, through smart installment plans. The company was founded by Tobi Odukoya and Deji Farohun.

Cladfy (Nairobi, Kenya)

Founded by Ebby Gatamu and Kibe John, Cladfy provides microfinance lenders with credit profiling, digitised loan management, and access to affordable, reliable financing.

Flick (Lagos, Nigeria)

Flick is building PayPal for Africa; enabling users to connect multiple bank accounts and pay directly from one source, making payments 7x faster. Ruth Olojedeand Dipo Gbadebo are the founders of the company.

Keble (Lagos, Nigeria)

Keble, founded by Emmanuel Oballa, Agulanna Josemaria, Adebisi Borokinni and Valentine Offiah, enables Africans at home and abroad to purchase fractional shares of global real estate for as low as $10.

Keza Africa (Lagos, Nigeria)

Keza is powering smartphone financing by enabling people to buy brand-new and certified pre-owned smartphones on a flexible payment plan. Keza Africa was founded by Aisha Hussaini.

Salad (Lagos, Nigeria)

Salad was founded by Chikodi Ukaiwe and Seunfunmi Omotunde and is providing employees with access to financial services and benefits beyond their monthly paycheck.

Sidebrief (Lagos, Nigeria)

Sidebrief simplifies the process of starting and scaling a business across borders, with its one-stop solution for registration, banking and regulatory compliance. The company was founded by Eunice Olopade, Abdulwaheed Yusuf and Usman Sotunde. 

Towntalk (Lagos, Nigeria)

Towntalk, founded by Folake Edun, Disun Vera-Cruz and Tomiwa Erinosho, is building Area!–a protection platform giving companies peace of mind when moving goods and people from point A to B, by providing real-time location and behavioural analytics, vehicle tracking and access to insurance providers.

Vittas (Lagos, Nigeria)

Vittas is a digital lender for healthcare providers, using machine learning, partnerships and embedded 3rd party SaaS solutions to provide loans for the purchase of medications and medical equipment. Vittas was founded by Sulav Singh, Collins Uche and Eric Okemmadu.

Oystr Finance (Lagos, Nigeria)

Founded by Ifedolapo Lawal, Olusola Onajobi and Omotayo Iginla, Oystr is democratizing credit in Africa. The company provides lenders with an infrastructure to help them launch low-risk micro-loan products, grow their portfolios and expand into new markets in less than 30 minutes.

About ARM

Established in 1994, ARM is a leading Nigerian diversified and integrated asset management group firm that offers wealth creation solutions and opportunities through a unique blend of traditional asset management and alternative investment services to retail, high net worth and institutional investors. ARM Labs is our fintech support programme designed to facilitate and encourage innovative growth in the financial services industry. ARM currently manages total assets of approximately N1.77 trillion (as of September 2022). www.arm.com.ng

About Techstars

The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 2,500 companies with a combined market cap of more than $220B. www.techstars.com

ARM Labs Innovation Program – Demo Day

ARM Group in partnership with Greentec Capital Partners is delighted to announce the Demo Day for the ARM Labs Innovation program.

Formerly known as LABS by ARM Accelerator Programme, the initiative designed to support ARM’s mission to fund compelling Nigerian Fintech start-ups in the incubation stage, will virtually hold this Thursday, September 22, 2022.

Having gone through a robust accelerator Programme which includes working with a Silicon Valley mentor within their domain expertise, the selected startups are ready to pitch their business models to investors.
Selected startups for the ARM Labs Innovation Demo Day include:

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Toju: a record management platform for thrift collectors, Microfinance Institutions, and Cooperative societies.

Regxta: a digital credit platform that provides quick and easy access to financial services for unbanked people and micro-business owners in Africa. With just a smartphone, a community agent can offer financial products to clients.

Crediometer: A Fintech created to build banking for startups and growing businesses of all sizes. They aim to power the next generation of companies shaping the industries.

Trade Lenda: a technological solution providing accessible financing to small businesses across Africa.

Keble: A Proptech designed to break the barriers faced by young Africans in the real estate market. With this platform, Africans can own properties and build wealth for as low as $10.

We are excited to have worked with these startups in the past 7 weeks and we believe that the Demo Day will be a wonderful display of their hard work and passion, as well as a chance for us to picture what the future holds for each and everyone of them.

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Applications Open for ARM Labs Lagos Techstars Accelerator Program

ARM Labs Lagos Techstars Accelerator Program
Applications are now open to early-stage entrepreneurs in Africa for the inaugural edition of the ARM Labs Lagos Techstars Accelerator Program.

LAGOS, Nigeria (June 6th, 2022) – ARM in partnership with Techstars for the ARM Labs Lagos Techstars Accelerator Program calls for applications for the inaugural edition of the program. The accelerator is a 3-month intense training program set to kick off in Lagos state by December 2022.

Following the announcement of the ARM Labs Lagos Techstars accelerator launch, applications are now open for early-stage fintech and proptech start-ups based in Africa from June 6th – to August 24th, 2022. At the end of the application process, 12 start-ups will be selected for the program. The inaugural class will commence on the 5th of December 2022 and conclude with a Demo Day scheduled for the 16th of March 2023.

During the training program, selected start-ups will have access to Techstars’ vast network of 7,000+ mentors, 20,000+ investors, over 10,000 founders, alumni, and corporate partners. Other benefits include up to $120k in funding, curated start-up programming, one-on-one mentorship sessions, access to a Lagos office space and to future Techstars events.

The first month will be dedicated to aggressive and hands-on training with mentors to help selected founders refine their products. After the execution stage in the second month, the final phase will largely be focused on helping start-ups refine their financial strategies.

Apply now

About ARM

Established in 1994, ARM is a leading Nigerian diversified and integrated asset management group firm that offers wealth creation solutions and opportunities through a unique blend of traditional asset management and alternative investment services to retail, high net worth and institutional investors. ARM Labs is our fintech support programme designed to facilitate and encourage innovative growth in the financial services industry. ARM currently manages total assets of approximately N1.6 trillion (as of December 2021). www.arm.com.ng

About Techstars

The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting start-ups, investors, corporations, and cities to help build thriving start-up communities. www.techstars.com

Apply now

ARM SET TO BREAK LIMITATIONS AMONG STARTUPS IN AFRICA

It is no news that Africa is the latest hotbed for technology startups and tech entrepreneurs. We can attribute this to the explosive growth of the continent’s population, its “youthful” might, and most importantly, the rise of challenges that can be solved by the application of emerging technologies spearheaded by these startups. 

Truly, the major reason for the existence of startups is to solve problems, and currently, Africa as a developing continent is fraught with a lot of challenges that need solutions, ranging from healthcare, financial services, education, energy, and the provision of  basic amenities. Indeed, the startup ecosystem in Africa just got more interesting. 

However, most startups in Africa are crippled with limitations of all kinds, top of which is funding. Many have failed and their cutting-edge innovative ideas driven into extinction because of lack of funding. Finance is a topmost priority if startups will make their mark in the market, and without funding, important concerns like hiring good hands, securing recognition, partnerships and visibility would remain unsolved. This will further hamper the focus of these organisations on their primary agenda- to solve problems with technology.

 

Introducing ARM Labs Lagos Techstars Accelerator Program

This is where the marriage between ARM and Techstars come in.

The ARM Lab Lagos Techstars Accelerator Program is focused on bridging the “funding” gap between fintech startups and proptech companies across Africa. Selected startups will get access to the capital needed to enhance the effectiveness of their respective businesses. Put simply, money will be placed in the hands of the right people to solve their basic business problems, so they can focus on the bigger fishes they have to fry – using technology to provide services that make life easier for others.

ARM Labs Lagos Techstars Accelerator Program will also provide the selected startups with access to mentorships, partnerships, and customised programming because success means going the entire nine yards. These startups need investors who are not just offering money, but expertise, wealth of experience, sense of direction and support, in every way possible.

Speaking about this partnership, Jumoke Ogundare- the CEO of ARM said “our partnership with Techstars is the logical next step in propelling the African continent to become the future global capital of fintech and transform how Africans access financial services.”

Understanding Estate Planning

Having an estate plan is one of the most vital things you can consider for your loved ones. It can help you feel more at peace knowing that your loved ones will be taken care of and that the legacy you leave behind is that which you desire.

What is an estate plan?

An estate plan is a means of managing and preparing for the transfer of one’s assets during their lifetime while minimizing bureaucratic inefficiencies. It also sets how you want designated persons to deal with matters pertaining to your health or financial decisions if you are unable to do so during your lifetime.

It may appear daunting thinking about this, however, it is highly recommended that you start planning early enough. Like the saying goes “if you fail to plan, you plan to fail” as this can lead to unplanned difficulties for your loved ones.

Some myths around estate planning:

*Estate planning is only for high-net worth individuals.

Often times, people think they have to have acquired so many assets before having an estate plan in place. It is important to note that the size of your estate is not a deterrent into having a comprehensive plan. If you own things such as a car, bank account, retired savings account, stocks, jewelry, house, you actually have an estate.

You may also need to bear in mind that you can also update your estate plan upon the acquisition of further assets, so there is no real need to wait until you are wealthy to have a plan.

*I am too young for estate planning.

This ideology is wrong! As soon as you start to acquire assets and of legal age, you should start thinking of having a plan in place. It is also vital to have an estate plan if you have dependents as this is key in protecting their future.

*Once I have an estate plan I do not need to update same.

Planning is never a “once and done” proposition. As change is constant so is ones’ affairs, there will come a time where there may be significant acquisitions or changes, such as marriage, divorce, a new birth, new assets. It is important to periodically review and update your estate planning documents to reflect these changes overtime.

Estate Planning helps you accomplish the following:

  • Preserve assets for future generations.
  • Minimize taxes and expenses.
  • Ensure that individuals you choose can make decisions on your behalf in the event of your incapacity.
  • Ensure all your assets are distributed according to your wishes.
  • Minimize family dispute or conflict upon distribution of assets

Essential Estate Planning Tools:

  • Trust:- A Trust is a legal arrangement made during ones’ lifetime whereby an individual transfers asset to another individual referred to as a Trustee for the benefit for named persons also referred to as beneficiaries.
  • Will:- This is a legal document that sets out ones’ intention of how assets are to be distributed upon demise.
  • Financial Power of Attorney/Medical Power of Attorney:- This type of estate plan appoints a trusted family member or individual to act as an  agent on ones’  behalf to take financial or medical decisions when incapacitated.

It is best to seek expert guidance, to ensure you take the right steps towards achieving your desires. At ARM Trustees Limited, our in-house experts can assist you regarding appropriate steps to ensure you have a seamless and effective Estate Plan.

Reach out to us on our numbers: 0700CALLARM ( 0700276364243)

And email: [email protected]

#IWD2022: Break The Bias – Women and Estate Planning

We commemorate the World International Women’s Day 2022 with the theme  #BreaktheBias and this is indeed an auspicious one. Why? Because it is time we changed a lot of prejudices and preconceived ideas about women, particularly as it relates to estate planning and wealth transfer.

A bias can be described as a disproportionate weight in favor of or against an idea or thing, usually in a way that is closed-minded, prejudicial, or unfair.

In estate planning, there is a huge bias against the idea of women writing wills or planning their estates. In fact, there is a bias against the thought of a woman owning assets.

Very much prevalent is the societal stereotype that when a lady marries, she’s expected to support her spouse and raise children  despite a growing number of women lending their voices to the elimination of this patriarchal view.  It is believed that provision will be made for women from the husband’s estate while some religions do not permit a woman to own properties. The restriction on women owning assets have contributed to the increasing number of contentious estates and the women and children are left at the mercy of the surviving relatives where the spouse dies intestate.   In some States where certain repugnant practises are still prevalent, the wife might be relocated from her comfortable lifestyle and be subjected to a demeaning lifestyle with her children when her husband passes.

For the unmarried lady, who either by choice or happenstance has found herself single, stories abound of how she earned her wealth despite the evidence available that she works hard and is a thoroughbred professional. A successful single lady is expected not to show off her material possessions due to the belief that this will put off men that might wish to approach her for marriage. In some cases, these ladies acquire the assets in the name of their brothers or fathers. If she builds a house, she is expected to tell everyone it’s rented, she shrinks and shrinks, to prevent a suitor from being intimidated by her wealth.

If the prejudice against womenowning assets and transferring their assets to their desired beneficiaries can be eliminated, we will have a society that is more accepting of women. A woman’s financial status should not be used as a yardstick to determine how submissive she is or will be in marriage.

However, because biases can be conscious and unconscious some women are also biased against the same gender- it comes under the guise of culture, tradition and practices. Girls are raised to ensure they acquire housekeeping skills and nurtured to act right and speak well to endear them to their future in-laws.

If we are to break the bias, it will necessitate the woman re-orienting herself and choosing to be successful, while carrying other women along.

Who will start? I hear you ask, “you and I”, I say. The husband who becomes kinder to his wife and realizes she doesn’t need his permission to be great but gives it anyway because society had made her shrink. The intelligent woman who finally takes her brains and credentials out of hibernation mode and steps out and steps up, to make money and to write a will, so as to leave a rich legacy for her desired beneficiaries.

You and I will start the process, we will recognize the bias, we will boldly stand up to it and we will stop it. The good thing is that, as we break this bias, we are consciously showing to other women what is possible and giving them permission to break it in their own lives and societies too.

Cheers to women having conversations about wealth building, wealth management, wealth preservation and most importantly wealth transfer in 2022 and thereafter.

This article was brought to you by ARM Trustees Limited

Contact ARM Trustees via email: [email protected] or call us 0700ARMENGAGE (0700 2763 64243) Visit our website on https://www.arm.com.ng/trustees/

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ARM Young Talent (Internship) Program

AYTP 2025 -Web-banner-V3

The ARM Young Talent Programme (AYTP) is designed to provide exemplary university students with the opportunity to develop an early career at ARM through exposure to meaningful assignments that offer opportunities to gain real-world experience .

It is our chosen way to influence the development of talent in our environment. The AYTP offers our interns good learning opportunities, via practical work experience prior to entry into the labour market or progression to further ones career. The AYTP allows ARM tackle some of the challenges relating to capacity building, by facilitating the creation and provision of possible employment opportunities for interns upon obtaining their University degree and completion of their internship programme with the firm. In addition to working with the best people in the industry, our interns are provided with comprehensive training in an environment which is geared towards learning, and are exposed to real life business projects, transactions and company initiatives.

At the end of the programme, our interns are also required to write a report and give a presentation on a project topic in order to assess their suitability. In addition to developing technical skills and experience, the AYTP provides interns the opportunity to develop interpersonal skills through networking with other interns, current employees and clients.

This is a great chance to get your career started at a leading investment management firm and gain some valuable work experience. Successful participation in our programs could invariably lead to full-time professional employment with the firm or an exclusive scholarship offer to study for a Post-graduate degree under our “Robert Akinjewe Scholarship Fund” Career Fulfilment.

Application Requirements:

  • Be a university undergraduate
  • Have completed at least two years of their degree
  • Be on track for a First class or 2:1 degree (Second Class Upper) degree or equivalent
  • Be available to resume physically in June 2025, if successful

Desired Skills and Experience

We seek high quality students from all disciplines that possess:

  • great communication skills (both written and oral), analytical and logical reasoning skills
  • strong interpersonal and relationship building skills

and are:

  • collaborative
  • able to think creatively and to be innovative
  • able to work in a fast-paced challenging environment
Apply here