Ecobank has announced Daba Finance, the Ivorian Fintech, as the Grand Winner of its flagship Ecobank Fintech Challenge 2024.

According to a press release, twelve innovative fintech startups competed to impress the panel of five judges for the $50,000 prize. The judges comprised renowned industry experts, who evaluated the finalists based on criteria such as innovation, market potential, scalability and team strength.

The statement said Daba Finance took home the $50,000 with its solution to make investing accessible to everyone by offering a one-stop investment platform for trading stocks, bonds, and other financial products.

CEO of Daba Finance, Boum III Jr, expressed immense gratitude for the opportunity and the recognition, stating: “Winning this challenge propels our mission to make investing and wealth building opportunities available for all.

With Ecobank as our partner, we are accelerating the journey to making our innovation accessible to millions and bringing financial empowerment to the continent.”

The judges also rewarded two additional fintechs whose solutions made a lasting impression. Melanin Kapital from Kenya took second place, winning $10,000 and Guinean’s fintech YMO secured hird place with $5,000.

For the first time, the general public was given the opportunity to vote for its preferred fintech, and MiaPay from Togo won the “Public Choice Award” for this year’s edition.

The 12 finalists were carefully selected from a record 1,550 Fintech Challenge 2024 entrants from 70 countries, demonstrating the competition’s rising prominence over its seven years.