ARM Empowers Tech Innovators: Unveils 12 New Investments in Partnership with Techstars

ARM-Labs-Lagos-Techstars cohort 2

Lagos, Nigeria – December 14, 2023: ARM Labs, the prominent Lagos-based financial services and asset management company, proudly unveils its second cohort in partnership with Techstars, acknowledged as one of Africa’s most active startup investors. Announcing the participation of 12 companies in its pan-African accelerator program, this milestone follows the triumph of the inaugural program and signifies the continued commitment of ARM Labs Lagos Techstars Accelerator to empower entrepreneurs shaping the future of Africa and global innovation.

The 2023 cohort, selected from over a thousand applications, delivers tech-enabled solutions across various verticals in Sub-Saharan Africa. The sourcing and selection was led by Managing Director for the accelerator, Oyin Solebo. It culminated in a screening committee joined by fellow directors at Techstars, executive leaders at ARM – Jumoke Ogundare, Sadiq Mohammed, Wale Odutola, Uche Azubuike and Ina Alogwu; as well as selected invited seasoned investors – Nneka Eze of Vested World, Maya Horgan Famodu of Ingressive Capital, Olumide Soyombo of Voltron Capital and Dotun Olowoporuku of Ventures Platform. 

For its first cohort, the program had initially focused on companies operating in FinTech and PropTech, but this year expanded to focus more broadly on entrepreneurs that are changing Africa and the world, by using technology, data and intelligence to serve a population growing in size, youth, income and digital access. Sectors invested in include FinTech, Logistics, E-commerce, HealthTech, Renewable Energy, and Future of Work.  The cohort comprises startups operating in Ghana, Nigeria and East Africa, and has four teams with at least one female co-founder. 

The 14-week immersive program will see Techstars invest up to $120,000 in funding in each startup as well as provide them with access to over $400,000 in cash equivalent hosting, accounting and legal support and other benefits worth more than $5M. The selected startups will also receive tailored mentorship, world-class company-building support, lifetime access to the Techstars worldwide network and targeted interactions with prospective investors to ensure that the continuum of follow-up capital is available as they grow. By partnering with ARM Labs, founders are also exposed to ARM’s local network, research and insights and decades long financial advisory expertise. 

The selected companies are, in alphabetical order: 

24Seven, founded by Olufemi Idowu, is an asset-light marketplace that enables small businesses and convenience stores to order inventory on credit with one-hour doorstep delivery.


Beauty Hut leverages technology to bridge the gap between beauty brands and consumers through efficient product distribution and marketing channels, via their e-commerce web-store and mobile app. It is founded by Subuola Oyeleye.


Eight Medical, by Dr. Ibukun Tunde-Oni, is an end-to-end platform that connects users in need to emergency medical resources (such as hospitals, ambulances, personnel, information & credit), reducing waiting times from an average of 3 hours to 10 minutes or less.


GetEquity facilitates access to investment opportunities by SEC-accredited providers, reducing entry barriers through investment aggregation across various asset classes. It is founded by Jude Dike, Temitope Ekundayo and Chigozirim Ugochukwu.


JumpnPass, by Tunde Ademuyiwa and Qudus Quadry, is a mobile self-checkout platform for modern retail in Africa. They enable shoppers to use their smartphones to effortlessly scan product barcodes, pay for items, and skip long queues.


One Plan helps workers in Africa’s informal economy create affordable financial plans, making it easier to start a retirement plan, access low-interest credit, and access health + life insurance cover. It is founded by Harold Awuah-Darko.


PBR Life Sciences offers pharmaceutical, consumer healthcare and medical device companies fast and easy access to high-quality market data and insights, helping them make objective decisions on product pricing, volumes and company strategy. The company is founded by Ayodeji Alaran.


PressOne Africa provides African businesses with deeper insights into phone conversations with customers through a communication platform that provides conversation intelligence and call monitoring. It is led by Mayowa Okegbenle, Opeyemi Shokunbi and Unoma Adeyemi.


Rana democratises access to clean and reliable solar systems for SMEs and residential customers through affordable long-term solar subscriptions, replacing the need for expensive, unreliable, and toxic backup generators. The company is founded by Abraham Mohammed and Mubarak Popoola.


Surge Africa, founded by Kumar Shourav and Ebrahim Essop, allows individuals, micro-entrepreneurs and MSMEs in Africa to make instant cross-border transfers and pay up to 80% less in fees.


Swoove empowers logistics companies in emerging markets to digitise and scale their businesses with dispatch automation, fleet management, tracking and telematics, and a wide delivery network. It is led by Kwaku Tabiri, Kingsley Amponsah, Gloria Pascucci, Robert Quainoo and Kevin Blankson


Veend, founded by Olufemi Olanipekun and Ebenezer Ajayi, enables individuals and businesses with verifiable income to access funds on-demand, addressing their needs for emergency funds or working capital.

Expert Guidance from Industry Leaders

The selected companies will benefit from mentorship sessions led by notable experts in the African tech ecosystem, including Tunde Kehinde (Founder/CEO, Lidya), Bode Abifarin (COO, Flutterwave), Tingting Peng (Chief Capital & Strategy Officer, Moove), Kevin Simmons (Partner, LoftyInc), Lola Esan (Partner, EY), and Yischai Beinisch (Head, West Africa – Emerging Market Power, Shell Energy Europe & Africa).

A Wealth of Opportunity

Oyin Solebo, Managing Director, ARM Labs Lagos Techstars Accelerator commented, ‘Our second cohort truly showcases, and perhaps also epitomises, the wealth of talent, innovation and ingenuity that can be found within the African tech ecosystem. Supporting this group in reaching their full potential feels like the perfect segway following the close and success of the inaugural cohort. The current market dynamics means that founders need a combination of financial support as well as technical assistance and access to networks in order to build resilient businesses. We are glad to be able to provide comprehensive support that covers this entire spectrum.’

Ina Alogwu, Group Director, Digital Transformation, ARM noted ‘Programs like the ARM Labs Lagos Techstars Accelerator enable us to comprehend, champion, and actively contribute to the growth of technology-driven solutions emerging throughout Africa, and we are thrilled to be on this journey for the second year running in collaboration with our valued partners.’

For additional information or interview requests with Managing Director, Oyin Solebo, please contact [email protected].

Demo Day and Beyond

The program concludes with an invite-only Demo Day on February 22, 2024, where founders will showcase their progress. Register here to attend.

The ARM Labs Lagos Techstars Accelerator continues to champion technology-driven solutions in collaboration with valued partners, contributing actively to Africa’s growth.

ARM and Techstars

ARM Labs Lagos Techstars Accelerator Program, powered by the collaboration between ARM and Techstars, aims to empower entrepreneurs for growth and success. Established in 1994, ARM provides wealth creation opportunities through asset management and alternative investments, while Techstars, founded in 2006, connects startups, investors, and cities, empowering entrepreneurs globally with investments in over 3,700 companies.

For more information, visit and


Estate Planning

Mofoluke Keshinro, TEP

It’s the last month of the year and a lot of us are already taking stock of things we had planned to do for the year while some of us are already acting on items on our list for the year that we haven’t actioned before now.

Note that there is still time before the end of the year to take major steps especially as it relates to your estate planning goals.

Outlined below are some key considerations to guide on achieving your estate planning goals before the year ends.

Do You Have an Estate Plan?

Yes, you have procrastinated on speaking with an estate planning expert to craft a suitable estate plan for you and it is December already but you have not done anything regarding this. You might want ask yourself the reason for not achieving this goal: is it fear of the inevitable? Is it that you’re unsure of how to distribute your assets? Is it uncertainty on the choice of your Executor or the choice of a suitable guardian for your minors?

If any of the above is a concern to you, do not delay any further, reach to ARM Trustees Limited, we are ready to assist you in achieving this objective in a timely manner to ensure you tick this off your list before the year ends.

Have You Updated Your Plan?

For some of us, we have existing estate plans however our status has changed and there’s a need to update the plan however this is yet to be done.

For those that are about to retire, there’s a need to review the existing estate plan because the retirement plan in the estate plan might no longer be adequate due to economic situation, some portfolios in the estate might not be proportionately spread between short, medium and long terms goals/needs, possibly the investments are long tenured, and they will not meet the needs of a young family that has short terms requests for welfare/lifestyle needs. So, there’s a need to sit with your financial planner and estate planner to adjust the plan as may be necessary. This can be done before the year ends.

Do You Have Life Insurance?

Life Insurance is a tool of estate planning, it helps individuals who do not want their families financially crushed while going through a bereavement undertake a life insurance policy. With a life Insurance, the claim payable upon the death of the insured goes to the named beneficiary in the policy document. Subject to the value of the cover on the life of the insured, the claim sum can be sufficient to handle the financial well-being of your loved ones even in the absence of the breadwinner. That’s why it is recommended that the sum assured should be significant to be able to give complete financial protection such that the family can continue their lives without suffering major change in income upon the passing of the breadwinner, they have the ability to settle debts (if any), go to School, maintain their lifestyle while having adequate financial leverage. You can undertake a life Insurance before the year ends.

If you have an existing life insurance, we recommend you review the sum assured due to the current economic situation in the country, to ensure the claims to be paid by the insurance company will meet the financial obligations of your family if eventuality happens now.

Have You Reviewed Your Named Executors/Trustees/Beneficiaries?

If you named natural persons as your Executor and/or Trustee in your Will, are the executors still alive? Did you give gifts to persons who might have passed on? Is your named guardian in the Will still alive? Or has the lifestyle of the guardian changed that you wish to change to a more suitable person? Do you have anyone with special needs that would need special care and extra financial planning in the family that wasn’t there at the beginning of the year?

Would you wish to set up a separate estate plan for your young children? Possibly, a Living Trust to cater to their educational, welfare and medical needs.

The above validates the need for a review of your estate plan before the year ends.

Inform Your Family About Your Estate Plan

It is recommended that your family know who to approach when eventuality happens hence the need to inform them of structures you’ve put in place to ensure they do not suffer when you are no longer in the picture. Informing them that you’ve created an Estate Plan and the name of your Estate Planning Advisor will guide them in times of emergencies.

We recommend you inform your family on the important values you wish they would adopt and perpetuate in your honour.

You might want to draw up a power of attorney that enables the person you donate the powers to, to take decisions on your behalf when you are unable to. The decisions can be financial, general and/or medical.