Photograph — CIO East Africa

Prominent development investment bank, DLM Capital Group, through its digital banking subsidiary “SOFRI” has announced the inaugural edition of its fintech pitch competition – Pegasus Fintech Challenge. The Pegasus Fintech Challenge will be executed in partnership with top tech accelerator, African Fintech Foundry. This is as part of its commitment to accelerate seed funding and investments in Nigeria’s fintech environment.

The Pegasus Fintech Challenge is open to all fintechs operating in Nigeria. Interested participants are invited to submit applications by sending details of their product as well as a demo to before June 18, 2021. Selected applicants will participate in a pitch event wherein the top three challengers will be selected and awarded.

The Head of Corporate Communications and Marketing at DLM Capital Group, Chinwendu Ohakpougwu, commented that the challenge was an opportunity for the Group to showcase its readiness to support the expansion of Nigeria’s fintech ecosystem. “As Nigeria’s fintech ecosystem rapidly expands and transforms, DLM Capital Group and Sofri are well-positioned to make impactful footprints in the industry. We encourage Nigerian fintech start-ups to apply to the Pegasus Fintech Challenge”, she said.

Commenting on the partnership, VC and Incubation Head at Africa Fintech Foundry, Oluwaseyi Balogun stated, “Africa FinTech Foundry entrenches its lead in the FinTech ecosystem as it partners with DLM Capital Group on its fintech challenge to serve as a silver lining for start-up funding amidst local fundraising setback prevalent in the start-up ecosystem.”

About DLM Capital Group

DLM Capital Group is a Developmental Investment Bank that provides innovative solutions to economic and social developmental challenges that impact the everyday lives of people. Since its inception, the bank has concentrated on creating markets, products, and long-term financing solutions to key sectors of the Nigerian economy that would benefit end customers to improve their well-being.  The investment bank comprise subsidiaries in bespoke corporate finance advisory, trustee, asset management, and securities trading arms, to sovereign/sub-sovereign entities as well as private and non-private corporations. The bank thrives on funding sectors of the Nigerian economy using innovative financing techniques, in particular, securitization and other structured finance techniques.

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