500 Startups, a global venture capital seed fund, has selected two Nigerian startups – Aella Credit and TalentBase – into the 19th batch of their seed investments program.
TalentBase is a Human resources management solution platform that wants to help HR managers and growing businesses simplify and organize their human resources processes, the startup was also one of the finalists of Aso Villa Demo Day from earlier this year. On the other hand, Aella Credit is an online lending platform that wants to make African’s access to funding easier.
Aella credit and TalentBase are among the 44 startup selected for the program which will see 500 Startups invest $150,000 in exchange for 6% equity in each startup. A $37,500 fee for participation will be deducted from the initial investment. The program which will last for four months will be run in Mountain View, San Francisco and Mexico City, and end with a Demo Day, where all the participants of the program will pitch to potential partners and investors.
This seed program is one of two available from 500 Startups. The other, Series A is for already established startups. The seed funding program will provide startups with access to mentorship, hands-on sessions with startup experts and a great office space where they will work with other founders from around the world
Applications for the next batch of the 500 Startups seed program end in 2 days. Interested parties can apply here.