500 Startups is a seed-stage accelerator with more than two thousand companies in its portfolio where each of them gets funding, mentorship and hands-on training in exchange for a 6 per cent equity.
For this batch, the San-Francisco-based accelerator selected 29 companies out of 3,000 applicants. According to 500 Startups, 37 per cent of the companies are from outside the US, 30 per cent have at least a female founder, and 70 per cent have at least one minority founder.
Connected Analytics, the company behind the ThankUCash product, is the only African startup to make the cut. The Nigerian startup helps businesses and banks integrate data analytics and rewards in order to retain customers and increase revenue.
Founded in 2018 by Madonna Ononobi, Simeon Ononobi and Suraj Supekar, the multi-merchants rewards platform developed a reward system to study customers spending patterns, their value…