US based 500 Startups has announced that two Nigerian startups, Aella Credit and TalentBase, will be taking part in its accelerator program. The two companies are part of a group of 44 startups selected from 15 countries. The companies form Batch 19 of 500 Startups’ seed program, which aims to provide mentoring, networking, and funding opportunities for promising ventures from across the world.
500 Startups says it is interested in connecting startups with potential investment and beneficial partnerships that could help them grow. Its investments target companies in consumer commerce, family tech and education, food tech and digital healthcare, design, payments and financial services, as well as beauty and fashion. Batch 19 of its seed program consists mainly of startups which provide B2B (Business to Business) solutions.
Aella Credit, one of the two Nigerian companies which will be benefitting from the 500 Startups initiative, provides instant credit solutions to Nigerians by eliminating the need for standard applications and enabling employees to borrow through their employers at competitive rates. TalentBase’s HR and Payroll software helps businesses track and appraise employees and automate payroll and tax deductions.
Companies listed by 500 Startups will take part in a four-month seed program, get hands-on sessions with startup experts and great co-working spaces where they will work with startup founders from across the world. They will also be receiving $150,000 worth of investment, plus a chance to pitch to potential investors and partners at the Demo Day which will take place at 500 Startups Silicon Valley Headquarters in Mountain View, California.
Applications are currently open for Batch 20 of 500 Startup’s seed program. To find out more, click here.
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