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.
The startup is solving the problems associated with cash –
expensive, unsafe, and difficult to track – in commerce through vouchers.
It sells and maintain an inventory of vouchers, which are
exchanged between two or more parties, and spent at a closed but extensive
network of merchants across Africa for various goods and services.
Through vouchers, the startup is making transactions cheaper,
more secure, and instant.
SureBids was selected alongside 45 other startups (both local
and international) to take part in the accelerator program, where they’ll be
getting mentorship, access to the 500 Family, massive publicity, and killer
co-working spaces.
Aside the aforementioned benefits, and the fun it’ll enjoy
while participating in the program, SureBids will receive an investment of
US$125,000 in exchange for 5% [1].
The accelerator 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.
500 Startups runs the accelerator programs in San Francisco
& Silicon Valley 4x per year emphasizing Internet marketing and customer
acquisition, design and user experience, and lean startup practices and
metrics.
Since inception in 2010, 500 Startups has invested in a wide
variety of technology startups all over the world, currently over 1,400
companies.
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