Three Nigerian startups have been confirmed as participants in the W23 batch of the renowned Silicon Valley-based Y Combinator accelerator, banking USD 500k in funding among other benefits. The W23 batch of the Y Combinator program is currently taking place and concludes with a demo day in March.
Of the first 85 startups revealed for its W23 batch, three are from Africa – all Nigerian. They are;
- Waza: Waza is a web platform with APIs that helps startups and emerging market businesses manage their cash flow issues, invoicing needs, and international payment requirements. The startup was established in August 2022 by Maxwell Obi and Emmanuel Igbodudu with the goal of assisting traders, major multinational organizations, and other financial institutions in managing their global payment and liquidity demand effectively and affordably.
- Shekel Mobility: Shekel Mobility is a neobank and trading platform designed for auto dealerships. Founded in early 2022 by Sanmi Olukanmi, Benjamin Oladokun and Valentine Mayaki, the startup helps emerging businesses realize their full market potential by providing them with the tools and resources they require to grow sustainably and optimally.
- Bujeti: Bujeti is an end-to-end expense management and budgeting platform that enables African businesses to take control of their spending through a centralised platform. The startup was founded in 2021 by Samy Chiba and Achille Arouko.
More startups will be announced over the coming months, with more African ventures set to be among them. Seven African startups took part in the previous batch of the accelerator, S22, but it was the edition prior – W22 – that had the most African representatives ever, with 24 startups from the continent taking part.
Y Combinator’s alumni feature continental royalty such as Flutterwave, Paystack and Kobo360 (not to mention Cowrywise, MarketForce, Kudi, WaystoCap, WorkPay, Healthlane, Trella, 54gene, CredPal, NALA and Breadfast).
The accelerator occupies an ambiguous position within the continent’s startup ecosystem but is lauded by entrepreneurs for the positive impact it has on their businesses.