Visa is investing new capital in four companies that emerged from its inaugural Visa Africa Fintech Accelerator class.

According to a news release sent to PYMNTS via email on Wednesday, November 6, the investments demonstrate Visa’s commitment to promoting digital innovation in Africa. This is part of the payments giant’s strategy to enable greater financial inclusion and access while also promoting the growth of FinTechs in Africa.

The amount of capital contributed to each business was not made public.

According to the release, the startups are ORDA, a cloud-based restaurant software company digitizing over 1,500 restaurants across Nigeria, Kenya, and South Africa; Africa-based OkHi, which digitally verifies addresses; and Ghana-based Oze, which provides embedded financial services to SMBs.

According to the press announcement, the three-month accelerator program helps seed to Series A firms by offering them training, cash, and partnering possibilities. It was initially introduced in 2023 and is a component of Visa’s commitment to support its digital transformation by investing $1 billion in the continent by 2027.

Godfrey Sullivan, senior vice president of products, partnerships, and digital solutions for Visa CEMEA, stated in the release, “These investments mark a substantial step for Visa — we are once again standing behind our commitment to innovation in Africa, helping to shape the future of digital payments alongside some of the brightest FinTech minds that the continent has to offer.” “Visa sees each investment as a unique opportunity to drive financial access and inclusion, and we are proud to support these startups as they realize their vision for a more connected Africa.”

Building on the success of the first accelerator program established in June 2023, Visa announced in January that it has welcomed its second cohort to the program.

“This exceptional experience will give entrepreneurs access to a broader network of priceless partners and investors, as well as mentorship and accelerated growth,” stated Leila Serhan, senior vice president and group country manager for North Africa, Levant, and Pakistan (NALP) at Visa, on January 29.