Fintech Numida has become the first startup in Uganda to get into YC (W22), a technology start-up accelerator that has launched thousands of companies in the world.
This means Numida will join 14 other startups from Africa that made it to the accelerator’s Winter batch, an opportunity that brings them on the radar of Silicon Valley investors come March 29, 2022.
Numida co-founder and CEO Mina Shahid says getting into YC (W22) is a dream come true.
“Being able to engage with people who have successfully built very large companies and succeeded, and receiving their feedback especially at our stage…that’s very relevant to us,” Shahid is quoted by TechCrunch as saying.
Numida is able to extend digital unsecured and affordable working capital loans to these businesses through a mobile Application.
Last year, Numida bagged $2.3 million in seed funding, which has helped it to extend more risk-based credit to micro-businesses in Uganda
On March 29th and 30th, 2022, YC will host their 34th Demo Day live on Zoom. This two-day event will feature founders from 43 countries and startups in every sector —fintech, B2B SaaS, Web3, consumer, healthcare, hard tech, and more.
According to Michael Seibel, the Group Partner and Managing Director, Early Stage at YC, every company will have one minute to present.
“At the start of the day, a single-slide company summary, short company description, and team bio will be available through the YC Demo Day website. The same website will also provide access to the live stream and the capability to connect with each company. By the end of the week, recordings of the presentations will be published on the website,” Seibel says.