Nigerian fintech startup CowryWise has been selected to participate in the Silicon Valley-based accelerator, Y Combinator’s Summer 2018 Batch. It will undertake an intensive three-month programme, receive US$120,000 in funding and access a wide network of entrepreneurs and mentors. The startup will take part in a demo day at the end of the programme.
CowryWise is a secure automated service that helps users save money and enjoy high returns from risk-free investments in Nigeria with zero fees. It has processed over US$1.5 million in savings for its customers to date.
The startup recently secured investment from Nigerian early-stage fund Microtraction.
CEO CowryWise, Razaq Ahmed, said the acceptance into the programme was a validation of the startup’s commitment to its customers while it focuses on its goal of bringing wealth management services to young Africans, irrespective of their income level.
