Chumz.io, a Kenya-based fintech startup, emerged victorious in last year’s Latitude59 Kenya Pitch Competition.
This win marked the beginning of an exciting journey for the innovative app, which helps users set and achieve their saving and investment goals through behavioral prompts and mobile money deposits.
The app’s growth since their victory at Latitude59 has been nothing short of remarkable.
Chumz.io’s Growth Since Latitude59
Since winning the Latitude59 Kenya Pitch Competition, Chumz.io has continued to expand its user base. “Since last year, we hit 200,000 registered users in Kenya, and we are testing our solution to go live in Rwanda this year. Our next big leap is to hit 1,000,000 users in Kenya by 2026 and be operational in Uganda, Tanzania, and Botswana by then as well,” stated Samuel Njuguna, Co-Founder and CEO of Chumz.io.
One of the most exciting developments is Chumz.io’s Superfan Challenge, which engages users by allowing them to save and invest based on their favorite football team’s performance. “For example, if your team wins, the app prompts you to save a set amount,” Njuguna explained, highlighting the app’s unique approach to saving and investing.
Latitude59’s Role in Boosting Chumz.io’s Growth
Winning the Latitude59 Kenya Edition Pitch Competition wasn’t just a victory—it was a door-opener for Chumz.io. “It was a good networking platform where we met some of the industry leaders and have engaged with some of them for feedback and partnership. We also got clients who were part of the audience and from the media coverage of the event,” Njuguna shared.
Also Read: Latitude59 returns to Nairobi: Second Kenyan edition set for this November
Chumz.io’s participation at Latitude59 provided invaluable lessons. The team had the opportunity to learn from seasoned pitching coaches and gained international exposure. “It was a great experience to be trained by experienced pitching coaches, engaging with a well-seasoned startup community, and presenting on an international stage. I would highly recommend entrepreneurs to apply,” Njuguna added.
Latitude59 is Seeking Bold Early-Stage African Startups
Latitude59, one of the most significant startup events, is now actively seeking the boldest early-stage B2B startups from across Africa.
According to Latitude59’s CEO, Liisi Org, last year’s results demonstrated that African startups are competing at a high level. “We are back in Kenya for the second year in a row and invite founders across Africa to apply and present their startups at the Latitude59 Pitch Competition,” said Org.
Startups selected to participate in the competition will receive professional pitch training and mentoring. The grand final will take place at the Latitude59 Kenya Edition 2024, to be held at the A.S.K Dome in Nairobi, Kenya, on November 28. Alongside the competition, side events, such as Investor Day, will run from November 27 to November 29.
The deadline for applications is November 1, 2024, and the winning African startup will receive an invitation to participate in the semi-finals of Latitude59 2025 in Tallinn, Estonia. Latitude59 will cover the costs for the roundtrip to Estonia.
The prize pool for the Latitude59 Pitch Competition in Estonia has been set at one million euros for two consecutive years.
Chumz.io’s journey is a testament to how participating in global platforms like Latitude59 can accelerate growth for African startups, helping them expand their reach and scale across borders.
Startups interested in applying for this year’s Latitude59 pitch competition can do by heading over the link below.
Apply here: https://app.dealum.com/#
