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torche.africa

Founded Year

2021

Stage

Seed | Alive

Total Raised

$120K

Last Raised

$120K | 1 mo ago

About Torche

Torche enables customers in Africa to make payments and other transactions with their fingerprint through biometric POS terminals, leading to increased payment success rates versus incumbent technology. The company was founded in 2021 and is based in Lagos, Nigeria.

Torche Headquarter Location

Lagos,

Nigeria

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Latest Torche News

Techstars NYC accelerator programme selected 3 Nigerian startups

Apr 16, 2022

Three Nigerian businesses have been accepted into the Techstars NYC accelerator programme, where they will get US $20,000 in equity capital and other support services. The Techstars NYC Accelerator received applications from over 48 countries and chose a group of global founders from Nigeria, Israel, France, Cameroon, Canada, and US locales such as Dallas, New York, Washington, D.C., Las Vegas, and Princeton. Torche, a biometric POS terminal that allows customers in Africa to make payments and other transactions with their fingerprint; Vesti, a neobank that provides financial services, information, and community to the 272 million international migrants who do not have access to banking; and Voyance, a no-code data infrastructure platform that makes data teams more productive by automating complex data processes. In exchange for a 6% interest, each of the selected firms receives US $20,000 in equity capital, as well as access to learning opportunities, networking, and mentoring. “We are thrilled to be a part of the prestigious Techstars New York Programme’s 2022 cohort. Joining the programme will support us on our journey to build the future of migrant banking by fine-tuning Vesti’s product-market fit and connecting with mentors and investors as we prepare for our seed round,” said Olusola Amusan, co-founder of Vesti. “We had a very competitive application pool and selecting these 12 companies was extremely difficult. The companies joining us in this year’s class are helping solve many issues – from tools enabling financial wellness, to technology fostering better health outcomes and solutions to make supply chains more efficient and greener. These companies will help guide us through life post-pandemic,” said KJ Singh, managing director of the Techstars NYC Accelerator.

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