Washington, DC - August 22, 2024 - Rexial has been selected for the 2024 Techstars Washington DC Accelerator, powered by J.P. Morgan. The program will provide Rexial with mentorship, resources, and strategic guidance to accelerate development of its direct debit infrastructure for African markets.
Joining an Elite Fintech Cohort
Techstars is one of the world's most selective startup accelerators, with an acceptance rate below 1%. The 2024 Washington DC cohort, backed by J.P. Morgan, focuses specifically on fintech innovation—providing startups with mentorship from industry leaders, connections to institutional investors, and resources to scale globally.
"We're honored to join the Techstars Washington DC Accelerator," said Aéko Ongodia, CEO of Rexial. "This program gives us direct access to the expertise and networks we need to scale our infrastructure across Africa. The fintech-specific mentorship from J.P. Morgan and other industry leaders will be invaluable as we expand our network and refine our platform."
What the Program Provides
Through the three-month accelerator, Rexial will work with fintech experts, payment industry veterans, and J.P. Morgan advisors to refine its go-to-market strategy, strengthen partnerships with African financial institutions, and prepare for expansion across East Africa.
"Techstars has a track record of fostering innovation and driving growth for startups around the world," said Adam Philips, Managing Director at Techstars. "Rexial's selection reflects their potential to solve a critical infrastructure gap in African fintech. We're excited to support their growth."
Timing and Next Steps
The accelerator comes as Rexial expands its network of partner banks and mobile money operators in Uganda, following its successful sandbox participation with the Bank of Uganda. The company plans to use insights from the program to accelerate regional expansion and deepen integration with financial institutions across East Africa.
About Rexial
Rexial builds the infrastructure that powers recurring payments across Africa, enabling banks, mobile money operators, and businesses to automate direct debits securely and reliably.
About Techstars Washington DC Accelerator Powered by J.P. Morgan
The Techstars Washington DC Accelerator, powered by J.P. Morgan, is a prestigious startup accelerator that supports high-potential companies through mentorship, resources, and funding opportunities. The program is designed to help startups accelerate their growth and achieve their business goals through a comprehensive support system.
Media Contacts
Rexial
press.uganda@rexial.com
+256 772 842 100
Techstars Washington DC Accelerator
Darius Clair, Program Manager
darius.clair@techstars.com
For more information about REXIAL's acceptance into the Techstars Washington DC Accelerator, visit www.rexial.com and www.techstars.com.