Nevertheless, ranging from subsequent 12 months, the ticket dimension will scale back to $125k for a similar quantity of fairness.
Often, these startups spend three months with the San Francisco-based accelerator earlier than ending off their actions with a Demo Day.
However issues have been barely totally different this 12 months as a result of coronavirus pandemic. Whereas the 197 startups from the Winter batch had participated in some periods within the Valley, they needed to just about pitch their startups to traders on Demo Day as YC shifted its typical bodily gathering occasion on-line.
It’s an analogous case with this summer season batch, making it YC’s first fully-remote cohort. With the occasion spanning two days, 98 firms pitched on August 24, and 94 firms, the next day.
— Y Combinator (@ycombinator) August 26, 2020
Out of the 192 firms in complete, listed below are the 5 African and African-focused firms that participated in YC’s Summer season 2020 Demo Day.
With the moniker “Zillow for Egypt”, Sakneen was based in 2019 by Ramy Khorshed and Hussein El Kheshen. The startup helps actual property builders and sellers join immediately with potential consumers.
Sakneen desires to cut back challenges like lack of monetary transparency, disorganised public data, that makes actual property buy in Egypt troublesome. Thus far, it has been capable of construct a database of 80% of Egypt’s new housing provide.
Afriex (US, Nigeria)
Based in 2019 by Tope Alabi and John Obirije, Afriex helps immigrants ship cash to their nations.
Based on its YC profile, Afriex makes use of stablecoins to supply remittance companies to its clients. Proper now, Afriex is processing about $500k per thirty days and is being utilized in over 30 nations.
MarketForce 360 (Kenya)
Tesh Mbaabu and Mesongo Sibuti based MarketForce in 2018. The Nairobi-based startup helps FMCG firms handle their subject gross sales actions in addition to develop their distribution channels in Africa.
Since launching, MarketForce has raised $500k in seed funding. Additionally, the startup has 40 paying FMCGs, 50k+ retailers utilizing its platform whereas processing $250m in transactions to this point.
Thndr is an funding platform that permits folks to put money into shares, bonds and funds with out charging fee. Just lately, it obtained a brokerage license to function in Egypt and start providing its customers entry to The Egyptian Change.
The Cairo-based startup was based by Ahmad Hammouda and Seif Amr.
Ramani (Tanzania, US)
Based by two brothers, Calvin Usiri and Iain Usiri, Ramani is an software for salespeople to trace their stock, register clients and file gross sales transactions.
Based on its YC profile, the Tanzanian startup was launched this 12 months. Thus far, it has 5 beta clients transacting with 380 retailers and has recorded $80k value of gross sales.
Podcast: MainOne 10 years constructing West Africa’s web infrastructure
NEW REPORT: Nigerian startups raised $28.35m in Q2 2020;solely about 4.5% of that got here from native traders. Discover out extra in the complete report.
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