Elevate: The Evolution of an African Fintech Startup

The financial technology business Bloom, which should not be confused with the Gen Z-focused investment app or the massively financed revenue financing platform, was admitted into Y Combinator at the beginning of 2022.

After an initial limited launch, a significant political upheaval in its native country, a pivot, and a rebranding to Elevate, the firm is now available for wide availability, at least in select emerging regions. Elevate had first developed a product with the primary intention of catering to those residing in East and North Africa, with a particular focus on Sudan.

There has been an increase in the number of younger workers who possess the technical and language abilities necessary to find employment through freelancing platforms such as Upwork and Fiverr. This trend has been observed across Africa and other emerging regions.

Elevate, which automates the process of collecting payments from employers in the United States and platforms such as Upwork, has signed up more than 150,000 people across its new regions since it launched operations earlier this year.