SureBids, a Nigerian retail voucher platform for gifting, loyalty, remittances and credit in Africa, has been selected to take part in 500 Startups Accelerator program in San Francisco, California.
Surebids maintain and sell an inventory of vouchers that are exchanged between multiple parties, and spent at a closed but extensive network of merchants across Africa for various goods and services. With these vouchers, SureBids is making transactions more secure and affordable, while attempting to solve the problems associated with transacting with cash.
SureBids was selected alongside 45 other startups, to take part in the accelerator program, where mentorship, access to the 500 Family, massive publicity, and killer co-working spaces will be provided.
In addition to the benefits, SureBids received an investment of US$125,000 in exchange for 5% equity of the company. The accelerator program will run for four months in 500 Startups San Francisco office and end in a Demo Day, where SureBids and the other startups will pitch to potential partners and investors.
Since 2010, 500 Startups has invested in a wide variety of technology startups all over the world, currently over 1,400 companies. 500 Startups runs the accelerator programs in San Francisco & Silicon Valley four times a year emphasizing Internet marketing, customer acquisition, user experience and lean startup practices and metrics.
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