Nigerian payments startup, Blueloop, to access $125k as it joins Y Combinator Winter 2021 batch

Nigerian payments startup, Blueloop, is joining 9 other African startups as it has been accepted in the 2021 Winter batch of Y Combinator program.

Founded in September by Ben Eluan, Osezele Orukpe and Israel Akintunde, Blueloop is the company behind Flux, a mobile payments app that lets you send money, receive money, make and accept payments across Africa using cryptocurrencies.

In mid 2020, the payments Fintech got accepted into Pioneer, an accelerator launched by ex-YC partner Daniel Gross. Pioneer provides 1% equity for mentorship, a community, and a two-month program where team mentors founders with the basics of starting a business

Later that year, the startup raised US$77,000 in pre-seed funding from Hustle Fund VC, Pioneer, Mozilla, and some angel investors.

With this entry, the company joins the league of alumni such as Releaf, CredPal, 54Gene, Kobo360, that has benefitted from the accelerator’s experience and funding.

Being selected for Y Combinator, Blueloop will have access to US$125,000 in seed funding. Y Combinator will work intensively with Blueloop for three months, to get them into the best possible shape and refine their pitch to investors for Demo Day in March, thereby making more investment opportunities available.

Y Combinator will also provide further support and mentorship thereafter.