Triply, a Kenyan fintech startup focused on streamlining payment processes for travel businesses, has joined Y Combinator’s Winter 2024 batch, joining other African startups such as Cleva and Miden in the accelerator program.
The travel industry in Africa is primarily comprised of small businesses, which account for 90% of the sector. However, these businesses often struggle with inadequate payment infrastructures, leading to inefficiencies in their booking systems and reliance on manual payment methods.
Recognizing this challenge, Triply was founded in 2021 by entrepreneurs Peter Wachira and Collins Muthinja to enhance how travel businesses operate in Africa.
Triply’s innovative platform serves as an operating system for travel businesses, integrating payment processing, invoicing, payroll, accounting, and other essential functions into a unified platform. In automating operations and facilitating payment collection, Triply empowers travel businesses to operate more efficiently and effectively.
In addition to streamlining operations, Triply operates a marketplace where travel businesses can advertise their services, tapping into Kenya’s growing domestic travel market projected to reach $749,000 by 2027.
With Kenya’s tourism industry generating significant revenue, estimated at $2.13 billion in 2022, and expecting a rise in tourist numbers, Triply is well-positioned to capitalize on the growing demand for travel services within the country.
Peter Wachira, co-founder of Triply, brings valuable entrepreneurial experience to the venture, having previously founded a leading vacation rental management company. Collins Muthinja, Triply’s other co-founder, has a decade of coding expertise and a good record of success in the fintech sector. Together, they are determined to address the unique challenges faced by travel businesses in Africa and unlock the full potential of the continent’s travel market.
Y Combinator believes Triply can drive innovation and transform the travel industry in Africa. With access to mentorship, resources, and funding, the company can scale its operations and make a lasting impact on the region’s tourism sector, enhancing sustainable growth and development in Africa’s travel industry.
