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Triply, a promising traveltech startup headquartered in Kenya, has secured a coveted spot in the prestigious Y Combinator accelerator program, marking a significant achievement for the African tech ecosystem.
This recognition underscores Triply’s innovative approach within the fintech sector and positions it to leverage resources and expertise from one of the world’s foremost startup accelerators.
Joining the ranks of other African startups, including Cleva and Miden, Triply becomes the third African participant in Y Combinator’s 2024 winter batch. Alongside this recognition, Triply has also secured a substantial investment of $500,000 from Y Combinator, marking a pivotal moment in its journey and signaling confidence in its potential.
Founded in 2021 by Peter Wachira and Collins Muthinja, Triply, formerly known as Tripitaca, serves as the operating system for travel businesses across Africa. The startup streamlines operations for travel businesses by facilitating payment collection, automating processes, and providing a unified platform for various functions such as invoicing, payroll, accounting, and operations management.
Moreover, Triply enhances visibility for these businesses by featuring them on its marketplace, catering to the burgeoning local travel market in Kenya, projected to reach a value of $749,000 by 2027. With the African travel market estimated at a staggering $300 billion, Triply capitalizes on this opportunity by offering tailored solutions for domestic travelers, who account for a significant portion (66%) of travel spending.
Y Combinator’s investment in Triply underscores its confidence in the startup’s ability to drive innovation in the African travel industry. Beyond financial support, Triply gains access to Y Combinator’s extensive mentorship network and global investor base, positioning it for accelerated growth and market expansion.
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