beU Delivery, an Ethiopian on-demand food delivery platform with super app ambitions to become the super APP of Africa, has secured $500,000 investment from Y Combinator.
Twice a year Y Combinator’s invest $500,000 per company in a large number of startups.
According to Africa digest, Nine African startups were accepted into Y Combinator’s Winter 2022 batch — YC invests $125K in exchange for 7%, plus an additional $375K at the most favorable terms of the next equity round
- beU Delivery, an Ethiopian on-demand food delivery platform with super app ambitions
- Numida, a Ugandan B2B financing platform targeting microbusinesses
- Tendo, a Ghanaian e-commerce reselling & enablement platform
- Topship, a Nigerian international shipping platform
- Moni, a Nigerian financing platform for mobile money agents
- IdentityPass, a Nigerian identity verification and compliance platform
- Dojah, a Nigerian KYC, identity, and user onboarding platform
- Touch and pay, a Nigerian NFC-enabled payments platform
The company said it will be expanding to two more countries in April and July 2022 and thirteen more countries in 2023 and 2024. Further, the company used a highly cost-efficient logistics system which enable to be affordable by the mass. According to beU Delivery, their fee is 67% cheaper than our competitors’ in Ethiopia.
YCombinator is a leading Silicon Valley startup accelerator that has helped lots of African startups, (including high-risk startups) with seed funds to upscale their businesses.
YCombinator stands out from its contemporaries by the value-addition it provides to its client base. It offers intensive training to selected early-stage startups and invests $125,000 for a 7% equity. Startups have the opportunity to raise further investments upon graduating from the accelerator
The opinions expresses here in the post "beU Delivery, an Ethiopian on-demand Food Delivery Platform has Secured USD 0.5 million Fund" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.