Update: Salad is now backed by Techstars!
Salad is delighted to announce that we are part of the inaugural class of winning startups who joined the ARM Labs Lagos Techstars Accelerator program, class of 2022.
This program is focused on investing in early-stage startups based in Africa through an intensive three-month training that is designed to equip entrepreneurs with the network, resources, funding, and fundraising opportunities to succeed in the ecosystem.
In less than a year, Salad has built a solution for employers and employees across Africa, a continent where about 70% of salary earners run out of cash before payday, resulting in financial stress which costs employers millions of naira in lost revenue due to a lack of productivity.
With Salad, employers can now offer their people access to affordable financial services and benefits that improve their lives while motivating them to do their best work. These services include Earned Wage Access (Salary on Demand), Financial Education, flexible bill payments, and lots more. Employers, in turn, will get access to a robust employee operating system that allows them to manage payroll, invoices, and track usage seamlessly, at zero cost. Our mission is to contribute significantly to Africa’s fast-growing workforce, in an economy where access to convenient and cost-effective financial services is limited.
By coming on board the Techstars program, we are set to expand our suite of offerings and create a lasting impact within our target market. Through several mentorship sessions surrounded by a solid network of talented people and a wealth of resources, we have garnered a lot of intelligence that continues to refresh our standpoint as a company.
Speaking on his experience at the program so far, our CEO Chikodi Ukaiwe said, “Our intent to partner with Techstars stems from our company’s alignment with the program’s vision. Techstars solves customer problems at scale by honing the empathy required to be successful at this, similar to what we do at Salad. Their work with startups through the different stages of growth is famed, and since we commenced the program, we are even more convinced that we have the ideal partner on our mission to provide African employees with access to financial services, at convenient and cost-effective rates”.
Congratulations to us and every startup that made the list! To know more about Techstars, read the full announcement here.