When talking about an innovative product that addresses the untapped market needs and grows to become an overnight success. Then Nigeria’s Kudi is one such product. Kudi is a chat-operated online payment platform, where a user can make utility bills payments, do fund transfers, purchase airtime and data bundles all through chat.
Now, here is the fascinating part! Kudi has only been around for a couple of weeks, and already it is doing transactions to the tune of $15,000, with a week on week revenue of about 125% if TechCrunch’s report is anything to by.
The little chatbot is poised for greatness, as it has become an overnight success and earned the attention of the big wigs within the global tech space. It will be among the tech startups hoping to clinch funding from Y Combinator in its Winter 2017 funding cycle. Popularly referred to as YC W17, which is currently ongoing in Mountain View, California.
As part of the cohorts of tech startups attending the YC W17, Kudi will walk home with $120,000 in funding and a mentorship opportunity. The mentorship opportunity will entail coaching and training to brush up Kudi’s game to be able to scale their services and hopefully attract more investors to catapult it to reach even greater market.
The YC W17 program runs for three months, after which there will be a Demo Day when the participating startups will pitch before a carefully selected audience who come only by invites. Post the YC W17 program, Kudi as well as the other participating startups will continue receiving mentorship from Y Combinator and its alumni network.
Another startup from Africa participating in the YC W17 program is WaystoCap. It is a B2B e-commerce platform where businesses can buy and sell products in Africa. There are other startups from Africa, which will be known when they are announced during or before the Demo Day.