Here are the African startups of Y Combinator’s summer 2020 demonstration day • Techpoint Africa


Divided into winter and summer lots, US seed accelerator Y Combinator (YC) invests $ 150,000 per year in selected startups in exchange for 7% equity.

However, starting next year, the ticket size will be reduce to $ 125,000 for the same amount of equity.

Usually, these startups spend three months with the San Francisco-based accelerator before ending their business with a Demo Day.

But things have been slightly different this year due to the coronavirus pandemic. While the 197 startups of Winter bundle had attended some sessions in the valley, they had to virtually present their startups to investors on Demo Day as YC moved their usual physical gathering event online.

It’s a similar case with this summer batch, making it the first cohort entirely away from YC. As the event spanned two days, 98 companies pitched on August 24 and 94 companies pitched the next day.

Out of the 192 companies in total, here are the five African and Africa-focused companies that participated in YC’s Summer 2020 Demonstration Day.

Sakneen (Egypt)

With the nickname “Zillow for Egypt”, Sakneen was founded in 2019 by Ramy Khorshed and Hussein El Kheshen. The startup helps real estate developers and sellers connect directly with potential buyers.

Sakneen wants to reduce challenges such as lack of financial transparency, disorganized public information, which makes it difficult to buy real estate in Egypt. So far, he has been able to build a database of 80% of the new housing supply in Egypt.

Afriex (United States, Nigeria)

Founded in 2019 by Tope Alabi and John Obirije, Afriex helps immigrants send money to their country.

According to its YC profile, Afriex uses stablecoins to offer money transfer services to its clients. At present, Afriex processes around $ 500,000 per month and is used in over 30 countries.

MarketForce 360 ​​(Kenya)

Tesh Mbaabu and Mesongo Sibuti founded Market force in 2018. The Nairobi-based startup helps FMCG companies manage their sales activities in the field as well as develop their distribution channels in Africa.

Since its launch, MarketForce has raised $ 500,000 in seed funding. In addition, the startup has 40 paid FMCGs, with more than 50,000 retailers using its platform while processing $ 250 million in transactions to date.

Thndr (Egypt)

Thndr is an investment platform that allows people to invest in stocks, bonds and funds without charging a commission. Recently, it received a brokerage license to operate in Egypt and begin offering its users access to The Egyptian Exchange.

The Cairo-based startup was founded by Ahmad Hammouda and Seif Amr.

Ramani (Tanzania, United States)

Founded by two brothers, Calvin Usiri and Iain Usiri, Ramani is an application for sellers to track their inventory, register customers and record sales transactions.

According to its YC profile, the Tanzanian startup was launched this year. So far, it has 5 beta customers trading with 380 merchants and has recorded sales valued at $ 80,000. айм без роверок од естное словоqiwi айм онлайноментальный айм

September 30, ask the Techpoint Africa team anything. Limited places available therefore reserve a place now.


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