Here is the 8 YC alumni from Africa with at least $1M in follow-on funding

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Here is the 8 YC alumni from Africa with at least $1M in follow-on funding

Here is the 8 YC alumni from Africa with at least $1M in follow-on funding

Photo: Oolu

In 2015, YC started admitting startups in Africa into their batches - both winter and summer. This number has grown in with time. According to our count, there are at least 14 startups from Africa that have graduated to date.

It is also appearing that becoming YC alumni is accelerating the startups' to raise funding.

In a period of three years, the startups have raised a combined total of $35 million in follow-on funding. That is if you're only considering those that have raised at least $1 million per round. Below is the list;

1. OMG Digital, Seed, $1.1M

Founded in 2016, the startup - based in Accra, Ghana - " creates digital editorial brands for African millennials". OMG Digital has raised a total of at least $1.2 million in funding to date. The bulk of this came in June 2017 from a $1.1 million seed round.

2. Trade, Seed, $2.6M

Trade is another Ghana-based YC alumnus. Founded in 2016 and headquartered in Tamale, they focus on connecting buyers, sellers, and transporters. The startup has raised at least $2.7 million in funding to date. Trade's bulk of total funding raised to-date comes from it's $2.6 million it raised in March 2017 after graduating from YC.

3. Waystocap, Seed, $3M

Morrocan Waystocap was part of the 2017 winter batch. Founded in 2014, WaystoCap is a B2B marketplace where businesses in Africa can buy and sell products. The startup raised its seed round of $3 million in June 2017, a few months after graduating. This brought their total amount of funding raised to date to at least $3.1 million.

Also read: Silicon Valley investors should bet on Africa’s potential not exit history

4. Kobo360, Pre-seed, $1.2M

The Lagos based startup calls its "Africa's 1st SME friendly on-demand supply chain marketplace". Kobo360 is among the latest entrants into YC after joining mid this year. The startup also announced a $1.2 million pre-seed round led by Western Technology Investment at about the same time.

5. Oolu, Series A, $3.2M

Oolu, an off-grid solar company in West Africa was among the first to take part in YC after joining the summer batch of 2015. They closed a $3.2 million Series A afterward in October 2017 followed by an undisclosed Series B led by GAIA Impact Fund in July 2018.

6. Tizeti, Seed + Series A, $5.1M

Tizeti provides broadband internet services to populated urban centers in Africa. It recently announced the raising of a $3 million Series A led by 4DX Ventures. The Nigerian startup, founded in 2012, had before raised a $2.1 million seed round in May 2017 after joining Y Combinator the same year.

7. Paystack, Seed + Series A, $9.3M

Founded in 2015, Paystack is one those that have raised a good amount of follow-on funding in Africa. In August 2018, the startup announced an $8 million Series A led by Stripe. This followed the $1.3 million they raised in 2016 in a Seed round led by Comcast Ventures and Singularity Investments.

8. Flutterwave, Series A, $10M

Founded in 2016 by Andela co-founder, Iyinoluwa Aboyeji, Flutterwave is the only YC alumni in Africa with double-digit follow-on funding, yet. The startup, which was part of YC in 2016 raised a $10 million Series A led by Green Visor and Greycroft in July 2017.