Paystack, a payments company that helps African merchants accept payments from anyone, anywhere in the world, recently published its entire Y Combinator application process and the backstory online on its blog, for Nigerian Startups to take advantage of.
Y Combinator is a startup accelerator program that operates new model for funding early stage startups. They invest about $120,000 twice a year in a large number of start-ups, among other benefits like 3 months intensive mentorship at Silicon Valley and a chance to pitch to select investors. In November 2015, Paystack became the first Nigerian company to be invited to join the Y Combinator Accelerator program. It subsequently has been able to secure about $1.3m dollars of seed investment from local and foreign investors
Its CEO, Shola Akinlade, published its application process to give other promising Nigerian startups who think they cannot compare themselves with successful YC startups like Dropbox and AirBnB, a chance at an experience that according to him quite literally changed his life.
He says, ‘I’m sharing Paystack’s YC application to show just how green you can be and still make it.’
Shola has graciously provided commentary woven throughout the application to give context and background to readers. He is also available for follow up questions through his twitter handle @shollsman
The deadline for applications to the Y Combinator Winter 2018 funding cycle is 8 pm PT on October 3rd. Shola encourages you and your team to consider applying to YC. You can read the application on the Paystack blog here