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Six other startups from Africa were selected to join Y Combinator's W22 cohort of startups.

The startups selected for the cohort include.

  • Tendo (Ghana) – an online platform that connects independent distributors with businesses. It allows anyone to start an online business without investing any capital
  • Numida (Uganda) – Digital working capital loans for micro and small businesses from $100 to $5,000, paid through unsecured mobile money
  • Frain (Nigeria) – a cloud-native webhook service that allows developers to push webhook events to their users in minutes
  • Dojah (Nigeria) – Provides multiple identity and authentication APIs for multiple uses through one integration
  • Eazipay (Nigeria) – Payroll and bookkeeping for startups
  • Touch and Pay (Nigeria) – a unique mobile payment and services platform that captures offline and online transactions using NFC technology

The above startups join the W22 cohort along with other African startups, including

  • BeU Delivery
  • Identity Passes
  • Moni
  • Top ships

YCombinator is one of the most attractive fellowship and gas pedal programs for technology build teams, supporting companies including Stripe, Coinbase, Twitch, Instacart, and Airbnb.

The total value of these startups exceeds $600 billion.

In Africa, notable Y Combinator investments include Flutterwave, Paystack and Kobo360. However, Cowrywise, MarketForce, Kudi, WaystoCap, WorkPay, Healthlane, Trella, 54gene CredPal, NALA and Breadfast are not the only ones.

Ycombinator recently announced that it is changing its standard seed deal size from the previous $125,000 (7% equity) to $500,000 with "most favored nation" (MFN) terms and no cap. SAFE is a simple agreement for future equity, meaning that if the startup does a pricing round in the future, YCombinator will allocate shares in that round.

Four startups from the African continent have been confirmed for the batch. These include beUdelivery, an on-demand food delivery service in Ethiopia, and IdentityPass, a digital compliance security company in Nigeria.

Others are from Nigeria – Moni, a new bank that uses a community-driven model based on social trust to finance mobile money agents; and Topship, which provides technology and services to streamline the movement of goods, shipments and reviews for African businesses.

Y Combinator runs two three-month funding cycles each year, one from January to March and one from June to August. Each cycle involves a process to improve the launch to be "as good as it can be.

These cycles culminate in an event called Demo Day, where startups present to an audience that includes the world's top startup investors.

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Recommended Reading: African Startups Raise More Than $4 Billion in 2021, a Record High, Says New Report

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