Microsoft and Flapmax have announced the success of their FAST Accelerator programme, which has significantly boosted the growth of Nigerian startups and empowered over 2,000 businesses across Africa.
According to the tech giant, the initiative, aimed at fostering local innovation, has helped startups access advanced technologies, AI expertise, and business development support.
In a statement, Flapmax said the programme had provided critical tools and resources to startups in key sectors such as fintech, logistics, and energy, allowing them to scale rapidly and extend their market reach.
Nigerian fintech companies like WallX and CoTrust Equity have benefited from the partnership, utilising AI-powered solutions to improve access to finance and streamline international transactions for small and medium-sized enterprises.
“Through FAST Accelerator, we are enabling startups to drive innovation in their industries, helping them solve local challenges while positioning them for global success,” Flapmax said.
WallX’s AI-driven platform allows SMEs to manage transactions and establish credit records, while CoTrust Equity offers a secure and scalable financing solution for SMEs, backed by Microsoft’s Azure technology.
In addition to fintech, the programme has also made strides in revolutionising Nigeria’s logistics industry. Trucki Technology, a startup supported by the programme, is transforming haulage operations through AI-powered route planning and telematics systems, according to Flapmax.
Flapmax and Microsoft’s collaboration aims to not only empower startups but also create long-term benefits for Africa’s digital economy.
Startups that complete the FAST Accelerator programme are eligible to join Microsoft’s Independent Software Vendor Success Programme, gaining access to Microsoft’s customer base and marketplace.
“By supporting these startups, we are helping to shape the future of Nigeria’s vibrant innovation ecosystem and further drive the country’s role as a leader in African tech,” Flapmax added.
According to Flapmax, WallX, a Nigerian fintech company, has developed an AI-powered platform through the FAST Accelerator.
It noted that the platform allowed small and medium enterprises to manage international transactions, simplify local dealings, and establish credit records, addressing the prevalent issue of limited credit access for small businesses in Africa.
Flapmax also highlighted that CoTrust Equity, another startup benefiting from the program, uses Microsoft Azure and Intel architecture to provide a platform featuring advanced APIs and AI-based fraud detection.
CoTrust Equity’s services currently support 10,000 SMEs, and the company plans to expand its offerings further this year.
In addition, Flapmax reported that Aibanc is pioneering Africa’s first subscription-based banking system with support from the FAST Accelerator. Aibanc utilizes AI technology to deliver personalized financial services, including loans and health management benefits.
The integration with Microsoft’s Azure allows Aibanc to offer highly tailored services that extend beyond traditional banking solutions, the firm said.