Monday, December 4

Three Nigerian startups named in Y Combinator accelerator programme

Three Nigerian tech startups – Moni, Topship and IdentityPass, have been confirmed as participants in the W22 Y Combinator accelerator programme.

Along with other startups across the world, the startups will feature in this edition as participating startups will receive up to US$500,000 each in seed funding as well as further investment opportunities at a demo day.

  • Moni is a neobank that uses a community-driven model based on social trust to provide financing to mobile money agents.
  • Topship provides technology and services that simplify the shipping of cargo, freight and parcels for African businesses, and
  • IdentityPass is a digital compliance and security company.

The companies would be expected to use the funding to grow the company and expand its operations across countries in Africa and beyond the shores of the continent.

The CEO of Topship, Moses Enenwali stated that being included in the accelerator Program has strongly affirmed the mission of the company to build the global distribution system for the movement of goods within and beyond Africa.

What you should know about the Y Combinator accelerator program

The Accelerator Program based in Silicon Valley was founded in 2005 and twice a year invests money into startups in return for equity. The programme has funded over three thousand startups.

The Accelerator Programme is part of the success story of various successful tech companies like Airbnb, Coinbase, Dropbox etc.

It also financed many of the tech innovators in the African space like Flutterwave, Paystack, Kobo360, Cowrywise, MarketForce, Kudi, WaystoCap, WorkPay, 54gene, CredPal and Breadfast.