Nigerian Fintech Startup Cowrywise Accepted Into YCombinator Summer 2018

By  |  July 25, 2018

Cowrywise, a Nigerian fintech startup whose app many Nigerians are now using to save as well as invest money today, has been accepted into the big-deal accelerator program called YCombinator for Summer 2018.

Razaq Ahmed, the CEO of Cowrywise said that “This acceptance into the YC is a validation of our devotion to our customers while we concentrate on our goal to bring wealth management services to young Nigerians, regardless of their levels of income.  

Cowrywise helps Nigerians save money and invest efficiently, irrespective of the kind of income they are earning. Since its launching n 2017, the company has processed more than USD 1. 5 K in savings for its customers. This startup will be joining Kobo360, a Nigerian-based logistics startup, which was recently affiliated with the YCombinator class of 2018.

Based in California, USA, YCombinator is a provider of seed funding for startups from every part of the world, providing them with financing, access to investors and business growth mentorship. Founded in 2005, the accelerator has been helping startups thrive through their first phase without difficulty. YCombinator is ranked at the top of the list of accelerators in the United States, according to Wikipedia.

Earlier in 2016, startups such as Paystack, Shypmate, Tress, Kuhustle, and Flutterwave were part of the first set to receive funding from the coveted seed accelerator in the world, YCombinator. Not long ago, Cowrywise got funded with an undisclosed amount, along with BitKoin Africa, by Microtraction.

The road now looks clear and promising for Corywise as they not only once again gain international recognition but stand a chance of availing a myriad of relevant opportunities to sustain and grow the business.

Most Read

The FTX Disaster Undermines The Hopes Of Africa’s Peculiar Crypto Scene

The rise of the cryptocurrency industry in Africa, however a fringe endeavour, is

“Banking The Unbankable” Kindles Banking-as-a-Service In African Fintech

Despite attention to the challenges surrounding financial inclusion, an estimated 57 percent of

Kenya’s Mobile Money Agents Aided Financial Inclusion—Now They Face Exclusion

In Ruiru, a town in Kiambu County which sits within the greater Nairobi