Jamii Cities of Johannesburg has received a R450,000 (approximately $30,000) grant from Rand Merchant Investment Holdings' (RMI) fintech incubator arm, AlphaCode.
Jamii Cities connects tenants to landlords with safe and affordable rental apartments in prime location in the Johannesburg central business district. It was founded last year by Adrian Taylor, Marc Maasdorp and Bartek Dutkowski.
The startup also rewards tenants for good financial behavior related to rental payments, which incentivizes a longer stay in Jamii Cities partner portfolio properties.
Jamii Cities was part of the 2018/2019 cohort of AlphaCode’s Incubate program
AlphaCode said in a recent statement that Jamii Cities was awarded the grant at a demo day held on 23 October.
The event was the culmination AlphaCode’s year-long Incubate 2018/2019 program which Jamii Cities was part of together with seven other startups, namely SELFsure, Akiba Digital, ISpani Group, Nisa Finance, Pago, Prospa and Yalu.
As part of the program, AlphaCode provided each of the eight startups with R1 million (approximately $67,000) in grant funding and R1 million (approximately $67,000) in support. This included mentorship, monthly expert-led sessions, exclusive office space in Sandton, marketing, legal and other business support services as well as access to the broader RMI network.
Read more here