Y Combinator is known to support startups around the world with funds after a representative from each startup pitch their ideas. Y Combinator is a seed funding startup accelerator based in Silicon Valley.
Y Combinator, also known as YC has selected 10 African startups for YC W21. YC accepts startups into two different batches each year, the first batch runs from January through March while the second runs from June through August.
This is a Nigerian Startup founded by two OAU students Ben Eluan and Osezele Orukpe, in 2020 who dropped out to start blueloop. Blueloop product named Flux is a payment app in Nigeria that eases cross-border transactions.
They built Flux, a hybrid app that combined the worlds of cryptocurrency wallets and a digital banking app. Users can receive cryptocurrency from all over the world and immediately convert it to fiat money.
Eluan reveals that several users utilize the bank transfer feature when shopping in malls, to load airtime, or pay bills.
Sendbox allows individuals to send and receive payments anywhere in Nigeria. Whether you want to pay for an item purchased online, get paid as a freelance worker, or simply indulging online shopping on Social Media platforms like Twitter or Instagram.
Sendbox also allows it’s user make use of the sendbox virtual account number which can be used to fund your sendbox wallet without worrying about any hidden charges or waiting for the usual payment confirmation.
Mono enables companies and developers to access financial accounts for historical and real-time transactions, balances, bank statements, credits, and spending patterns of a customer.
flextock provides e-commerce fulfilment services to businesses and consumers in Egypt, they were also selected as Y Combinator winter 2021 batch. The startup was founded by Mohamed Mossad and Enas Siam in sept 2020, Enas Siam noticed that e-commerce activities in the middle east and north African regions accelerated due to the pandemice merchants were left with a volume of orders they recieved.
This triggered the opportunity to build a tech platform to help anyone that wanted to grow their own indepedent brand or store.
As orders are made, Flextock packages and ships the products from the fulfillment center to the customers, similar to Jumia.
Dayra a Egypt based Startup was also selected by Y Combinator winter 2021, Dayra is the easiest way for companies to provide financial services to their unbanked supply of workers, and businesses. From virtual bank accounts to cards and loans.
The startup has raised $3 million in a pre-seed round that includes a mix of equity and debt financing. The round includes investment from Tanmiya Capital Ventures, EFG EV, EFG Hermes, and different angel investors. Dayra raised the majority of these funds last year and closed the round with the investment from Y Combinator.
Dayra has received the standard $125,000 investment as part of the accelerator program. Dayra enables companies of different sizes to provide financial services to their workforce through APIs and its mobile app.
NowPay an Egyptian Startup launched the financial wellness platform in 2019 to enable corporates to offer salary advances to their employees. The startup was founded by Mostafa Ashour and Ahmed Sabry.
They’ve recently also added Gehan Fathi, who previously worked as Managing Director at EFG (and joined this round as an angel) and Mahmoud ElHosseiny who managed Egypt sales for Fortune 500 company Stanley-Black Decker to their executive team.
The solution offered by NowPay helps employers improve employee happiness, productivity, and corporate loyalty, without any changes in their cash flow as the money is offered by NowPay.
Djamo a ivorian startup providing financial services to the unbanked across west Africa. Djamo’s success in Côte d’Ivoire can be attributed to its multi-layered response to the limitations of traditional banking.
The startup was founded by Hassan Bourgi and Regis Bamba to solve the banking conundrum facing most of the population, they decided to create a one-size fits all approach tht accommodates multiple layers tailored to different user needs.
Kidato is an E-learning startup based in Kenya, Kidato is an online school for K-12 kids with a vision to provide a high-quality, affordable education to the growing middle class in Africa. Kidato has more than 528 students learning from home.