Y Combinator (YC) has been a significant player in Africa's tech ecosystem since the middle of the past decade, backing over a hundred startups, including some of the continent's success stories such as Flutterwave, Wave, and the Stripe-acquired Paystack. A report by research firm Briter Bridges described YC’s portfolio companies as having the propensity to scale, evidenced by over $1.3 billion follow-on funding raised by YC-backed companies. However, YC's recent cohorts suggest that the global accelerator may now be looking less at African startups, with the latest W23 cohort welcoming only three startups from Africa, the lowest in recent years. This trend is traceable to YC’s refocus on US-focused startups, which comprised over 90% of the latest cohort, and is replicated across other regions, including Latin America. Despite this, numerous founders are raising significant capital without going through Y Combinator, and several other international accelerators and local accelerators are being more deliberate, which is evidence of an ecosystem that is maturing fast.

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