TORONTO, ONTARIO, CANADA, July 13, 2022 /EINPresswire.com/ -- Chimoney, a Canada-based Fintech company has been selected as one of the startups joining the United Nations World Food Programme (WFP) Innovation Accelerator. Chimoney is one of 2 Startups globally selected from 80 countries to join the Bootcamp and upcoming Sprint Programme to tackle hunger and poverty.

Founded by Nigerian Software Engineer and Founder of AfricaHacks, Uchi Uchibeke, Chimoney is a Payment Infrastructure Startup providing global bulk disbursement with flexible cashout options and an API to unlock the utility of crypto and wallets. After being selected over 800+ applications to join the WFP Innovation Bootcamps, Chimoney was qualified as one of the startups pre-matched with the WFP country office in Nigeria because of its potential to solve problems at scale. Chimoney’s proprietary payment solution which is connected to over 1,000 Banks, Mobile Money providers in 20 countries, Airtime, and over 500 Gift cards globally, will be piloted for disbursement to offline beneficiaries using USSD technology.

Dolapo Fadare, Chimoney's Business Development Lead, who joined other innovative teams virtually at the WFP Headquarters in Munich, Germany, said she is super excited to be a part of the Accelerator Programme and that Chimoney would show potential to significantly disrupt hunger in the pilot—WFP's Sprint Programme: an intensive six-month acceleration program that helps innovators and start-ups reach proof-of-concept and develop prototypes ready for implementation.

"I am looking forward to creating an impact on WFP activities and also to seeing how Chimoney can plug into making the cash-based transfer more seamless for all involved parties and accelerate financial inclusion", she said.

During the Sprint Programme, Chimoney will partner with WFP’s country office in Nigeria and develop a novel cash disbursement that is fast, scalable, and inclusive to thousands of people allowing the World Food Programme to send cash to beneficiaries in the most straightforward method via USSD. With Chimoney’s solution, using only USSD, receivers can instantly redeem either as mobile money, cash, or bank deposit. In essence, this solution will serve as a tool to solve hunger and contribute to at least 6 Sustainable Development Goals (SDGs) as money is made available instantly in a choice-based approach.

Speaking from Toronto, Canada, the founder, and CEO of Chimoney, Uchi Uchibeke, commented that “financial inclusion and providing a choice to beneficiaries is key to promoting human dignity. Chimoney is excited to use our network, infrastructure, and services to enable global choice-based disbursements to beneficiaries even in remote offline locations globally.”

In addition to the Sprint Programme’s innovation principles, including human-centered design and lean startup, Chimoney accepts the challenge and is looking forward to accelerating financial inclusion so that people in need can receive the cash they need for food, clothing, shelter, and human dignity.

Poppy Atchima
Chimoney
team@chimoney.io
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