Since 2016, Y Combinator has backed 35 startups in Africa. These are startups that located in Africa and another 10 with an Africa product focus including FinTech Paystack and logistics firm Kobo360.
This year, Africa is represented by seven startups mainly from Nigeria and Tanzania focusing on financial services, agriculture, healthcare and education.
Here are the seven startups presented at YC Demo Day 2019:
Nala (Tanzania): NALA is an application that acts as an interface on top of the mobile money payment systems that allows the user to make transfers, payments, and transactions seven times faster, without data connectivity.Nala lets users pay bills, do p2p payments, and purchase cell phone minutes without an internet connection.
54gene (Nigeria): Founded by Abasi Ene-Obong, 54gene helps detect and identify DNA markers that might otherwise go overlooked.
Thrive Agric (Nigeria): Thrive Agric work with smallholder farmers in Africa to give them access to finance, best practices and linkages to big buyers upon harvest. The company has worked with 14,000 farmers to date, with plans to reach 1,000,000 farmers across Africa by 2022 in what it says is a $54 billion market opportunity.
CredPal (Nigeria): CredPal is an innovative solution that allows businesses and individuals buy anything and pay for it in instalments across online and offline merchants by providing them with instant access to credit at the point of checkout.
Schoolable (Nigeria): Schoolable is an invoicing app that helps ensure parents make payments on time, while also using the app to save directly for tuition.
Wallet.NG (Nigeria): This startup allows people to send money to friends or family and pay bills with only the recipient’s phone number. Wallet helps users keep track of their spending through financial reporting available on the app.
VertoFX (UK): VertoFX is a B2B currency marketplace and international payment provider for frontier markets with an initial target market of Africa. The platform allows businesses to gain easy access to foreign currencies and make international payments seamlessly, providing clients with real-time and cheaper exchange rates, liquidity, and faster settlement periods.
Image Credits: Techcrunch