Vault Pay, a startup from the Democratic Republic of the Congo, is the third African startup to be chosen for the cohort after being chosen for the Y Combinator Summer 2023 (S23) class.

The payments company has joined the S2023 group together with Eden Care, a healthcare business, which was the first Rwandan startup to enter the renowned accelerator program when it was announced in July 2023, and ChowCentral, a Nigerian food delivery service.

Vault Pay, based in the Democratic Republic of the Congo, is aggressively building crucial payment infrastructure for the Central African region, according to a statement posted on the Y Combinator website. In 2023, Ntambwa Basambombo and Christel Ilaka founded this business.

The firm offers immediate payment choices, user-friendly financial services, and customized solutions supplied over telecommunications networks using its infrastructure. By enabling telecommunications firms to directly distribute banking services, Vault Pay aims to “facilitate effortless integration and unparalleled possibilities,” according to its developers.

According to VaultPay, “we create a harmonious partnership between banks and telcos, amplifying the reach and impact of financial services, with secure data exchange, real-time transactions, and synchronized operations.”

One of the most alluring fellowship and accelerator programs for digital companies is Y Combinator, which has backed a number of businesses including Stripe, Coinbase, Twitch, InstaCart, and AirBnB.

YC makes a total investment of $500,000 in each business that is accepted into the program. African startups supported by YC have since raised an additional $1.5 billion.

Y Combinator alumni with distinction include:

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

Eight African startups, including six fintech firms and two food delivery startups, were accepted into the summer 2022 class at Y Combinator.