Nigeria’s Crypto-Friendly Fintech, BridgeCard, Among 3 Latest African Entrants into Y-Combinator

Digital Banking service startup BridgeCard is one of 3 entrants to Y Combinator’s S22 batch, bringing the number of African startups selected to the batch to 7 out of 219.

The 3 latest entrants include:

• BridgeCard – A fintech and crypto wallet
• Anchor – a Banking-as-a-Service platform
• FoodCourt – Food delivery startup

In May 2022, Bridegecard raised a $440, 000 pre-seed funding round to expand its user base and build out its platform.

Co-founded by Owumi Festus and Tunde Adewole, BridgeCard merges a user’s cards, bank accounts, crypto, and fintech wallets into one app, allowing them to perform online transactions, pay bills, and withdraw from any linked account.

In addition, the startup provides a physical card that permits withdrawals from any Nigerian or international bank account, as well as a dollar card with a $10, 000 monthly spending limit.

SEE ALSO: Nigerian Fintech Startup, BridgeCard, raises $440K to Support Crypto Wallets in Select African Countries

Y-Combinator is an American technology startup accelerator launched in March 2005. It has been used to launch more than 3,000 companies, including the following from Africa:

• Flutterwave
• Paystack
• Kobo360
• Cowrywise
• MarketForce
• Kudi
• WaystoCap
• WorkPay
• Healthlane
• Trella
• 54gene
• CredPal
• NALA
• Breadfast

Twice a year, Y-Combinator invests $500, 000 per company in selected startups before a 3-month program to get them into the best possible shape and refine their pitch to investors. Each cycle culminates in a Demo Day when the startups present their companies to a carefully selected, invite-only audience.

Y-Combinator global alumni include:

• Stripe
• AirBnB
• Coinbase
• DropBox
• Reddit
• Twitch
• Quora
• Scribd
• Optimizely
• Firebase
• CodeAcademy

RECOMMENDED READING: African Startups Have Gone On to Raise $1.5 Billion Post YC – 2/3 Went to Nigeria