On Android there's a bit more opportunity - if you move quickly, you can do alright by ripping off iOS game concepts that haven't been ported over yet. Monetization is still pretty bleak vs. iOS.
Funding's available to companies who've already had some successes (although in that case you really shouldn't need to take it) or to new teams with a track record at other companies.
There are a ton of people doing this - you'll face a lot of competition. I wouldn't let that stop you if you're super-passionate about the field and your ideas.
I know of one YC company doing exactly this and doing well, although they got there after a pivot - they were accepted on the basis of something completely different.
The second biggest issue with licensing is dealing with the people you're licensing from, who are rightly concerned about the impact of your game on their brand.
Third biggest issue is the legal fees - you'll need a lawyer who knows their way around such contracts.
I've got no idea whether Y Combinator's reputation would help with content licensing or not.
Not sure about any funding, though.