The W22 batch of the Y Combinator program is presently in session and will culminate with a demo day next week. Y Combinator has played a role in the early days of firms such as Airbnb, Coinbase, and Dropbox, among others.
At a demo day, participants earn initial funding as well as additional investment options. The accelerator’s S21 iteration had the most African participants yet, with 15.
With almost 350 firms now confirmed to participate, eight more African names have been added to the list, bringing the total number of African participants to 23, well exceeding the number of African participants in S21.
Also read, Y Combinator W22 Batch confirms 5 Additional African Startups
Nigeria is responsible for seven of the new confirmations. Payourse is a cryptocurrency platform, Simplifyd is a data-free internet service, Sendme is an on-demand clean meat provider, Vendy is a payments business, Convoy is an open-source cloud-native webhook service, Curacel is an insurtech firm, and Plumter is a payment API provider. Bloom, a Sudanese financial platform, is the other chosen business.
Continental aristocracy such as Paystack, Flutterwave and Kobo360 are among Y Combinator’s graduates (not to mention, MarketForce, Cowrywise, Kudi, WorkPay, WaystoCap, Healthlane, 54gene, Trella, CredPal, Breadfast and NALA).
According to Disrupt Africa, the accelerator’s standard transaction size has climbed to US$500,000. YC had previously invested US$125,000 for 7% equity, but as part of its new standard offer, it will now spend an additional US$375,000 in an uncapped SAFE with “Most Favoured Nation” (MFN) terms.
The accelerator has an equivocal place in the continent’s startup environment, but entrepreneurs praise it for having a good impact on their enterprises.
Payourse is a crypto platform that’s passionate about making it easier, faster, and more affordable for businesses to build user-friendly crypto goods in Africa by giving tools that make it easier, faster, and cheaper for them to do so.
Unlike local cloud providers that offer obsolete deployment alternatives and overseas providers who do not cater to the specific African reality, Simplifyd is a cloud infrastructure system that delivers compute, storage, and managed DB services for the contemporary manner of app deployment.
Simplifyd is a straightforward and opinionated service that provides high throughput and minimal latency while billing in native African currencies.
Sendme is an online platform where customers can order for fresh meat and have it delivered to them in a couple of hours. Located in Ibadan, Nigeria, Sendme deals in cow meat, goat meat, chicken, turkey and the likes. According to information on their website, they deliver to anywhere in Ibadan through a Sendme micro-fulfillment center for as low as 200 naira.
Vendy is a technology startup focused on enabling financial inclusion, particularly in emerging nations (the bottom of the pyramid). Vendy’s philosophy is based on the idea that any difficult problem may be simplified in a way that generates an ecosystem, ensuring that the answer is available to everyone.
They believe that automating the collection of offline payments will result in significant efficiency for SMEs, as well as a ripple effect that will help their clients solve other financial issues.
Convoy is a webhooks solution that is both fast and safe. It collects event data from an HTTP API and sends it to the endpoints specified.
The following characteristics are included in Convoy:
Security: Convoy certifies the payload of events, ensuring that they have not been tampered with by apps. To enable backward-compatible migrations from custom-built systems to Convoy, you can configure your preferred hash function and also the name of the header, such as X-Stripe-Signature.
URL per Events: Convoy can accept a single event and fan it out to several terminals according to on the endpoint owner’s setup. The endpoint owner configures which events should be sent to each endpoint during the subscription. Overlaps are permitted.
Retries: Constant time retries and exponential backoff are the two retry mechanisms supported by Convoy at the moment. You can choose whatever retry mechanism is the most appropriate for your application.
Management UI: One of the most highly protected qualities of a webhook delivery system is visibility and ease of debugging. Convoy offers a user interface for viewing delivery attempt logs, filtering by application, date & time, event status, and performing configurable batch retries during outages.
Curacel develops APIs that allow insurers to interact with digital distribution channels and efficiently manage their claims. We’re laying the groundwork to make insurance effective for the next billion Africans, as well as equipping businesses throughout the world with the tools they need to incorporate insurance into their operations.
Plumter connects African businesses and consumers to global payment rails, making it easier for them to make international transactions and bank internationally. Plumter was founded on the strong belief that doing business, trading, and making payments as an African should be on equal footing with the rest of the globe.
Bloom is a fintech firm that offers East African consumers fair, innovative, responsible, and inclusive financial products.
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