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Kenyan startup PesaZetu has been selected as one of eight companies to compete at the PitchIt @ LendIt startup competition in London, which aims to find the future star of the fintech world.

The competition is aimed at firms innovating within the online lending and fintech space; and provides a showcase for eight of the world’s best high growth fintech companies.

Applications opened last month to startups across the world, with PesaZetu the only African startup making the final cut.

PesaZetu operates a mobile-based peer-to-peer lending marketplace, with users topping up their lending account via mobile money.

Hosted by lending firm Capital One in partnership with fintech conference organiser LendIt, the eight selected startups will pitch their businesses to a panel of expert judges and tech industry leaders at the LendIt Europe 2016 conference, to be held in London on October 10 and 11.

Prior to the conference, startups will receive expert coaching and mentorship to prepare their pitch.

The winner of the competition will receive ongoing mentoring from experts associated with Capital One Growth Labs via a personalised plan to help their fintech develop, and access the necessary expertise and capabilities to help their startup grow.

“I congratulate the eight companies for being shortlisted for PitchIt @ LendIt. The competition is a great way of increasing their profile with the international fintech community and the finalists will be given the opportunity to learn from industry leaders, secure investment and meet potential partners,” said LendIt’s chairman and co-founder Peter Renton.

Amy Lenander, managing vice-president and chief marketing officer (CMO) of Capital One, said the organisers have been “astounded by the level of innovative ideas that have been put forward” during the application phase.

“We are thrilled to have received so many entries in the competition, and we now have an exciting shortlist of eight companies pitching to be the overall winner,” she said.

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