Y Combinator announced three Nigerian startup companies amongst other African startups qualified to earn a slice of its packaged seed round. Y Combinator started the year with $500,000 worth of equity — batched investment program, committed to African startups endorsing accelerated development.
Y Combinator — the Silicon Valley Accelerator tagged this batch W22 enlisting Topship, IdentityPass, and Moni as the startup companies representing Nigeria for its current investment batch. These participants are entitled to endorsed equity worth up to half a million.
The participants for Y Combinator’s Seed fund initiative are likely to continue receiving funds past demo day.
The investment opportunities are criteria based on soluble innovation fused with technology. The investment program is committed to accelerating startups and the African economy.
○ Topship The startup company offers cargo logistics and parcel services. Topship shipping operations are focused on serving the African transportation industry promoting mobile business movements. Nonetheless, 7% of $500,000 — Y Combinator’s Seed is offered to Topship to accelerate shipping parcels and cargoes in Africa.
○ IdentityPass. IdentityPass also got enlisted to benefit a 7% share off Y Combinator’s offering. The startup security company sells high-end technology for surveillance system solutions. IdentityPass digital compliance is an encrypted technology that bolsters its security services. A slice of Y Combinator’s half a million dollars Seed should accelerate past demo day and startup growth.
○ Moni. The best is always saved for last — Moni is the only fintech startup from Nigeria on Y Combinator’s W22 batch that sells finance management to mobile money agencies. The neobank startup company is participating to accelerate its driven- operation in African communities. The provisional equity will simplify its operations to mobile money agents in underserved economies.
Y Combinator Accelerator Program is dedicated to pushing startup companies past their infant stage with adequate equity resources.
Selected startups are expected to expand their operations across Africa. The Accelerator program will also bolster Africa’s digital economy via startups’ innovation ministry willing to sell technology to a broader market range.
Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.
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