Topship, a Nigerian shipping company, announced that it has been accepted into Y Combinator Winter 2022 Batch. The company joins many successful companies such as Airbnb, Stripe, Dropbox, Flexport and Paystack who have gone through the popular accelerator program.
Founded in 2020 when the world went on a lockdown due to the coronavirus pandemic, the founders realized that people were looking for safer, but cheaper options to move things in and out of the country. This was proof of the existent problem, and with the founding team’s experience in the industry, they came up with Topship, a one-stop shipping solution.
Topship wants to make shipping as easy as booking an Uber ride from one place to the other. By doing this, the company hopes to connect African merchants to global trade while promising fast, efficient, and easy ways to ship from, within and outside the continent.
Speaking on this recent announcement, CEO and co-founder Moses Enenwali believes that this strongly affirms and validates the company’s path to be the ultimate shipping platform for African businesses. “We’re beyond excited to be a part of this batch and this strongly affirms our mission to build the global distribution system for the movement of goods within and beyond Africa”
By getting into YC, Topship will have access to the seed fund and other investment opportunities following graduation in March. The company hopes to expand to other countries in Africa, build the global distribution system for the movement of cargo by leveraging on initiatives like the AfCFTA and hire amazing people to do more exciting work to meet the company’s mission.
Early in the week, Y Combinator announced that it has revised its standard deal upwards for accelerator companies to $500k. It will still invest $125,000 for 7% and now also invest an additional $375,000 on an uncapped safe with an MFN
