Tech: Nigerian fintech startup has been accepted into YCombinator Summer 2018 with $10,000 equity-free funding up for grabs

Cowrywise and other participating startups will have access to $10,000 in equity-free funding and receive over $50,000 in credits to a variety of other services, Digital Ocean, Amazon Web Services, and Clerky.

Nigeria's fintech startup, CowryWise, has been accepted to participate at the YCombinator Summer 2018, a startup accelerator programme.

YCombinator Summer 2018 is a 10-week, online course designed for startup founders.

After the course, Cowrywise and other participating startups will have access to $10,000 in equity-free funding and receive over $50,000 in credits to a variety of other services, Digital Ocean, Amazon Web Services, and Clerky.

Razaq Ahmed, CowryWise CEO, said, “this acceptance into YC is a validation of our commitment to our customers while we focus on our goal of bringing wealth management services to young Africans irrespective of their income level.”

The Nigerian fintech startup helps people save and invest easily irrespective of their income level. Since 2017, the company has processed over $1.5 million in savings for its customers.

The course will begin on Monday, August 27, 2018.

Cowrywise will be joining the Nigerian-based logistics startup Kobo360, which was recently accepted into the Y Combinator class of 2018.

Ycombinator, Based in California, USA, provides seed funding for startups from around the world, providing them with financing, access to investors and business growth mentorship.

Earlier in 2016, startups like Shypmate, Paystack, Tress, Kuhustle and Flutterwave were among the first to receive funding from the coveted seed accelerator in the world, Y Combinator.

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