Curacel

7 more Nigerian startups accepted into Y Combinator W22 batch, total participants now over 350

Blessed Frank

Mar 24, 2022 • 1 min read

With the confirmation of seven additional Nigerian start-ups – totaling eight for Africa, the number of African participants in the W22 batch of the Y Combinator Program now stands at 24, far exceeding the number of African participants in the S21 batch.

The W22 batch of the Y Combinator program is now in session and will end with a demo day next week. Participants in the program get initial funding as well as further investment opportunities on demo day.

With over 350 firms now confirmed to participate, an additional eight African names have been added to the list, bringing the total number of African participants to 24.

Nigerian firms account for seven of the latest confirmations. Payourse is a cryptocurrency platform; Simplifyd is a data-free internet service, Sendme is an on-demand clean meat service, 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 start-up on the list.

Flutterwave, Paystack, and Kobo360 are among the Y Combinator alumni, together with the likes of Cowrywise, MarketForce, Kudi, WaystoCap, and WorkPay, Healthlane, Trella, 54gene, CredPal, NALA, and Breadfast.

The Ouut has earlier confirmed the participation of some of the African start-ups such as Moni, Topship, Identitypass, Beu, Dojah, Easipay Inc, Numida, and Tap in the Y Combinator W22 batch.

The standard deal size has been increased by the accelerator to $500,000. Before this batch, YC invested $125,000 for seven percent equity, but under its new standard deal, it will now also invest an additional $375,000 on an uncapped SAFE with “Most Favored Nation” (MFN) terms.

The Y Combinator has so far played a very pivotal role within the African startup ecosystem, and its ripple effects are already felt across the continent – evident in the likes of Flutterwave, now the most valuable start-up in Africa.

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