Twice a year, the latest batch of startups in Y Combinator’s incubator program get a chance to showcase their products to a set of invited guests in Mountain View California and these events are called Demo Day. The Y Combinator Demo Day is held annually at the end of the months of March and August respectively.
This year’s edition of the event saw a lot of startups that were not largely software based. And in more good news, 3 African startups were among the 60 that showcased the first day; Shypmate, Paystack and Lynks.
Shypmate is a delivery service that uses peer to peer delivery in shipping goods bought online from abroad to Nigeria. They employ travelers coming down to Nigeria as the courier for the goods.
Paystack, as the name suggests is a payment solution that enables Nigerian merchants accept Master, Visa and Verve cards from anyone, anywhere in the world.
Lynks is an Egyptian shipping solution that helps shoppers purchase goods and services online and ship it to them at international shipping rates without any further levies on their orders.
According to the Mattermark Growth Score, Shypmate was ranked number 9 in 15 fastest growing Y Combinator winter 2016 startups. Ranking 9th with a cumulative score of 621, Shypmate sat comfortably atop Bonsai the site for hiring freelance developers which was at number 1o scoring 554 in the Mattermark growth scale.
When Techpoint talked to Shypmate, they pointed out their strategies for a massive disruption in the sector they are in and we all agreed with them. Now,it seems Silicon Valley agrees too with the small imperceptible nods they are getting from the Y Combinator and Silicon Valley as a whole.
Congratulations to the African startups in the list, we wish them well. May the force be with them as they pitch to greatness.
Image Credit; Techcrunch
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Nigerian startups raised $377m in 2019, more than twice what they did in 2018. Find out more when you download the full report.