Vault Pay, a payments infrastructure company based in DRC Congo, has been chosen to participate in Y Combinator's Summer 2023 class, making it the third African startup to join the cohort. Vault Pay was founded in 2023 by Ntambwa Basambombo and Christel Ilaka and aims to address financial inclusion challenges in Central Africa by offering instant payments and banking services through telcos' networks. The startup's goal is to empower telcos to directly distribute banking services and provide personalized solutions. Despite electricity and internet infrastructure challenges in the region, Vault Pay seeks to enhance financial access.

This year's selection of three African startups for Y Combinator's summer cohort marks a departure from previous years, where more African startups were accepted. In 2022, eight African startups were part of the cohort, and the accelerator's focus on food delivery startups was highlighted. The trend of fewer African startups being accepted into Y Combinator suggests a shift toward more focused and strategic selections.

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