TechPression

Tag: pre-seed

  • Mercy Corps funds Kenyan e-commerce Tappi with $1.5m

    Mercy Corps funds Kenyan e-commerce Tappi with $1.5m

    Kenyan digital commerce solution Tappi raises $1.5 million in an oversubscribed pre-seed round led by Mercy Corps Ventures and Chui Ventures. Digital Currency Group, SOSV, Resilience17, growX Ventures, Orbit Startups, Reflect Ventures, Google, Salesforce, and Zendesk angel investors and advisors participated in the round.

    The investment supports Tappi’s mission to empower African SMBs in digital commerce.

    Tappi uses AI and partners with mobile network operators and financial institutions to quickly create online storefronts for over 100 million African SMEs.

    Read also: Kenya-based Kotani Pay secures $2 million for internet-free remittances

    Tappi’s fast growth and innovative solutions

    Since its founding in 2022 by CEO Kenfield Griffith and Louis Majanja, Tappi has helped small businesses digitize by creating online profiles or websites. The app lets business owners create SEO-optimized websites in two minutes after providing the necessary information. Google prioritizes business visibility with 5,000 indexed business pages, allowing customer reviews.

    Griffith told the Press: “Our goal is to help businesses achieve visibility.” 

    The MTN-partnered digital commerce solution lets small businesses buy ads with airtime, overcoming credit card payment issues. Tappi simplifies business ad payment with a personalized data bundle of ad credits, data, and voice. With limited resources, businesses struggle to write compelling ad copies. The platform’s AI feature helps.

    Despite not being profitable, the e-commerce company will be. This is made possible by $2–$100 customer subscriptions. Adding $2–$19 subscribers and growing 19% month-over-month in business ads and data bundle subscriptions, the digital commerce company is growing.

    Kenfield Griffith thanks investors and shares Tappi’s mission to empower SMEs across Africa by creating a trusted online identity for customer acquisition, especially in overlooked service industries like food services, fashion, agriculture, health, and beauty.

    Tappi affects African small businesses

    Tappi helped Nairobi’s Little Red boutique become a global fashion player. The boutique quickly went online using Tappi’s easy-to-use interface and powerful tools, reaching customers beyond its physical location. Sales increased, and international recognition increased.

    Urban and rural entrepreneurs benefit from digital commerce. A craftsman in a remote Nigerian village sold his handmade goods through Tappi’s extensive network. The platform’s collaboration with mobile network operators made transactions easy, allowing the craftsman to sell his work to a broader audience and boost his income and the local economy.

    Tappi helped Cape Town’s fast-growing food delivery service, Yebo Fresh grow even faster. Tappi enterprise tools simplified order processing, improved customer interactions, and found the best delivery routes. It improved business operations and garnered positive user feedback, which created loyal customers and word-of-mouth advertising. The startup’s success shows Tappi’s solutions can be used widely and in many situations.

  • E Squared investments partner 4DX ventures in pre-seed investment round

    E Squared investments partner 4DX ventures in pre-seed investment round

    Impact investor E Squared Investments has joined 4DX Ventures in a pre-seed expansion investment round for Zoie Health.

    Roche reports that 90% of healthcare decisions are made by women, yet few resources help working-class young women, pregnant women, and moms manage their healthcare. 

    These services are often (1) too expensive (private sector), (2) low-quality (public sector), (3) fragmented, or (4) inefficient with no clear focus.

    Read also: Global Startup Ecosystem estimates Lagos technology sector at $8.4billion

    Zoie Health offers women’s healthcare

    Zoie Health is a platform for women’s health services that focuses on women’s health as a whole.

    It has a community of users and experts who have been using it for a while. The platform offers virtual consults, consults at home, medication subscriptions, tools, and a community of women who can help each other through health seasons.

    With the money, Zoie Health plans to grow Africa’s first digital women’s health clinic by adding more products and spreading to more countries on the continent.

    “Not only do the people who started Zoie Health have a lot of experience in this field, but it’s also very important that the whole team is run by black women. This strong team is building a high-impact tech solution that we think will be a great addition to our group of companies in terms of how well it fits with our values and how much money it will bring in. ” 

    The deal is an extension of E Squared’s initial funding and helps entrepreneurs through the E Squared Pathways facility,” says Gladwyn Leeuw, E Squared’s Chief Investment Officer.

    Leeuw says, “Through this deal, we hope to support digital innovation in women’s health care and give working-class women access to quality, affordable health care.” We think that the digital part will make services that have been hard to get to in the past easier to get to and give an option to people who can’t afford to miss work or stand in long lines at government clinics or who can’t afford private healthcare because it’s too expensive.

    Zoie’s low-cost digital solution is used by more than 5,000 people, and 80% of them stay with the service because it uses network effects, relatability, and a sense of belonging well. Even though they are a new business, they have already signed up 50 health practitioners and have 300 more on the way. Their customer satisfaction rating is 9.78 out of 10.

    Thato Schermer, co-founder and CEO of Zoie Health, says, “We think our offering has a lot of potentials to grow, and we will be looking to expand to other African emerging markets in the SADC region, as well as Kenya and Nigeria.”

    This all-in-one solution includes virtual consultations, consultations at home, medicine subscriptions, and real health intervention services like pap smears, pregnancy tests, contraceptives, fertility testing, etc. The offering also includes a chatbot for general advice, care before and after giving birth, care for families and community support groups, and general health add-ons that are geared towards women.

    “It was clear from the start that Zoie Health’s founder, Thato Schermer (nee Mabudusha), a 2015 Allan Grey Orbis Foundation Fellow, would go on to build a business with a big effect.” In 2012 and 2013, Thato won the “Most Entrepreneurial Fellow Award” from the Allan Grey Orbis Foundation, and in 2014, he came in second,” says Sipho Pilime, Search and Pipeline Head at E Squared.

    Vantage, NHED, to Boost Nigerian Health System using AI

    Thato Schermer, Zoie Health’s Founder

    Thato’s desire to improve health care in South Africa and the rest of Africa led her to do a study on unmet health needs and look into how modern approaches could improve health outcomes in Africa while she was working as a management consultant at McKinsey in 2015. Because of this interest, she took on jobs like chief of staff to the CEOs of Life Healthcare (Global) and Discovery Vitality and Global Strategy and Business Development Lead.

    In 2019, Thato pitched E Squared a business idea. At this point, E Squared joined her business effort.

    Thato turned down the full-time accelerator from E Squared because Uber SA gave him a job as a Territory Manager for two years. In 2020, she joined Pathways, a full- and part-time version of the E Squared acceleration scheme that helps Allan Grey founders of new businesses.

    Thato was named one of the Top 200 Young South Africans by the Mail & Guardian, one of the Top 50 Women in STEM by the Inspiring Fifty, and an AWIEF Top Technology Entrepreneur Finalist.

    She started Zoie Health Technologies with Dr. Nonhlanhla Sitole, who has a PhD in Molecular and Cellular Biology and is the Chief Clinical Officer.

    Dr. Nono Simelela, WHO’s Special Advisor to the Director General on Strategic Programmatic Priorities, and Florah Chuene, Lead Engineer, join the team. This black, all-female executive team shares Zoie Health’s mission and brings clinical and technological expertise.

  • Social media platform NewComma secures pre-seed funding

    Social media platform NewComma secures pre-seed funding

    The pre-seed funding round for NewComma, a social media platform that aims to empower African and Black creatives, was successfully completed in cooperation with SFC Capital, the most successful early-stage investment firm in the United Kingdom.

    The financing will hasten the development of new technology and will continue to give African and Black creatives the ability to transform the creative sector on a global scale.

    Read also: Meta plans new social media platform to rival Twitter

    What NewComma does

    NewComma offers users a digital platform on which they may exhibit their portfolios, network with industry experts, and look into available employment prospects.

    Employers may find great talent while maintaining diversity in their global companies by using data-driven recruitment solutions that are fair to their budgets.

    It is anticipated that by the year 2030, young Africans will account for 42 percent of the world’s youth population, making it imperative that enabling structures be put in place. Particularly in light of the growth of Africa’s digital economy and the increasing popularity of working from home.

     

    Remark from NewComma’s executives 

    According to Ed Stevenson, Investment Executive at SFC Capital, “NewComma presents a unique opportunity to transform the African creative industry.”

    “We were impressed by NewComma’s innovative approach and passion for empowering African/Black talent, combined with their understanding of the market’s potential, it convinced us to support their vision.”

    According to Natalie Narh, the Chief Executive Officer and Co-Founder of NewComma, “When people talk about Africa today, they often refer to immense opportunities that lie ahead. We believe Africa is now.”

    Nigel Atta-Mensah, the Chief Operating Officer and Co-Founder of NewComma, explains further that “African governments need to create 18 million new jobs annually to accommodate the ambitious population entering the workforce; by nurturing creatives into the formal sector, we can provide countless opportunities.”

    Nigerian Eyowo partners with Providus Bank to restore interbank transfers

    What people are saying about NewComma 

    Norkor Nortey, a Graphic Designer, remarked, “I’m most excited about connecting with other creatives (especially other female creatives! #heygirl) and finding freelancing jobs in my niche.”

    Joe Wackle, a Filmmaker said,  “Filmmaking is one of the most collaborative storytelling forms. #CommaCommunity feels like a buffet, but with many talents. I love being a part of a fearless generation defining what it means to be African and talented AF.”

    Benita Nartey, an Architectural and Interior Designer, “We are a generation who wants to heal our home through thoughtful design and innovative forms of expression. We thrive in community and paving a way for a new landscape across the continent is going to take a tribe of New Commas.”

    “I’m excited to be a part of the Comma Community, to meet & e-meet like-minded creatives seeking to support each other on our creative journeys, which aren’t always so clearly defined. It’ll be awesome to have a platform that provides some support to us creatives,” Tomisin Akins a Copywriter said.

    With the job boards component of the website of NewComma, which the company promises would be accessible very soon, you will be able to land your next creative position. Questions and queries can be directed to info@new-comma.com.

  • Egyptian startup Seqoon Secures $500,000 in pre-seed funding

    Egyptian startup Seqoon Secures $500,000 in pre-seed funding

    A pre-seed funding round brought in $500,000 for the real estate co-ownership startup Seqoon.

    The round was made possible by Banque Misr’s pilot program to encourage innovative startup businesses in Egypt. In addition, there was involvement from a number of well-known angel investors in this round.

    Seqoon is putting this funding toward expanding its workforce, and the company has just begun offering co-ownership opportunities in El Gouna as its first location.

    The initiative at Banque Misr plans to help fintech startups by giving them subject matter sponsors from within Banque Misr. This gives businesses access to experts from all over the world who can help them with their next accelerated ventures and give them advice.

    “I have no words to adequately convey the buzz that permeates this room. We have a high-quality staff that is poised to take over the real estate market, and we have the backing of investors and angel investors who have a lot of experience in our industry. “We want to revolutionize the way people perceive real estate in Egypt by making it more accessible and paving the way towards a sustainable approach to home ownership,” Mohamed ElKhatieb, Co-founder of Seqoon, said in an interview with WAYA. “We want to make it more accessible, and we want to pave the way toward a sustainable approach to home ownership.”

    Read also: Estate Intel, a Nigerian startup announces $500k pre-seed round

    The Startup helps people own shares of vacation homes

    By giving people the ability to own shares of a vacation home while still enjoying all of the benefits of real estate ownership, Seqoon presents a novel approach to the ownership of real estate. This year, Omar Eldessouky and Mohamed Elkhatib are thought to have set up the co-ownership platform.

    We should all reconsider our decisions in light of the fact that global markets appear to be moving in the direction of a recession. Co-ownership is one of the ways that Seqoon plans to shake up the traditional real estate market in Mena. This will allow residents to have the option of living a luxurious lifestyle but in a way that is savvier and more environmentally friendly. We think that this is the most practical way to acquire the holiday house of your dreams. Omar Eldessouky, the CEO of Seqoon, made the following statement.

    Eldessouky went on to say that a significant number of Seqoon’s users are looking for co-ownership so that they can invest in the region’s properties with the highest potential for value appreciation at lower initial investment levels.

    Seqoon desires to expand its operations in 2023

    By the year 2023, Seqoon plans to extend its operations to include the North Coast of the Mediterranean as well as more Red Sea locations like Dahab.

    Seqoon’s can offer its customers co-ownership because it uses a legal framework backed by the law firms Zaki Hashem & Partners and Shehata & Partners.

    Egyptian SubsBase Raises $2.4 million in Funding

    About Seqoon

    Seqoon is a platform that provides a service for locating and buying co-ownership shares in vacation homes. They begin by establishing a limited liability company (LLC) for each property, do due diligence on potential co-owners as well as the property itself, and then take over management of the residence.

  • Nigerian-owned and US-based housing startup “Whose Your Landlord” secured $2.1M funding led by BlackOps Ventures

    Nigerian-owned and US-based housing startup “Whose Your Landlord” secured $2.1M funding led by BlackOps Ventures

    Whose Your Landlord (WYL), a Nigerian-owned housing startup based in the US recently announced raising $2.1 million in a pre-seed funding round led by Black Operator Ventures, better known as BlackOps Ventures.

    Last year December, the venture capitalist firm, BlackOps Ventures pooled $13 million in capital from investors with the intention of investing in Black Founders. This WYL funding round is proof that the fund is living up to its intention.

    Why the name “Whose Your Landlord,” and What is it about?

    Whose Your Landlord, also known as WYL was founded back in 2015 by Ofo Ezeugwu — a Nigerian based in Buffalo, US — **with a focus on collecting renter notes concerning landlord and building quality. The company has evolved to include a SaaS service for what WYL calls “home providers,” or the folks who own buildings and other rental units.

    To simply put, WYL collects renter feedback, which is easy to find and digest on its website. For rental owners with a good number of units, they can pay for the collected information, allowing landlords to track how they are performing with their customers, how many of their current tenants intend to stay, and so forth.

    Read Also  The New Generation of Earbuds From Africa

    The startup writes on its website that it uses the possessive form of the word ‘who’ because — “We’re giving our community ownership of their living situations by putting housing in their hands.” WYL intend to build the world’s most trusted rental community by bringing transparency, equity, and humanity to the everyday interactions between residents and home providers.

    “What we’ve learned about ourselves is we’re selling a process and an approach, not just a platform,” CEO and founder WYL, Ezeugwu said. “We emphasize a feedback-based culture which provides documentation and insights on how you can improve.”

    Whose Your Landlord charges building owners $2 per unit, per month for its software, a figure that Ezeugwu said can be discounted for larger contract volumes. The startup has plans to expand its feature set, naturally, allowing it to charge more in time. Before it launched its software product, WYL generated revenue through brand partnerships with companies like Allstate and others that sell to folks who rent.

    Investing in Black Founders — WYL $2.1 million funding intent by BlackOps Ventures

    The BlackOps Ventures team — James Norman, Heather Hiles, Sean Green, and Ebony Peay Ramirez saw that even though Black founders are raising more capital in the past year, it is just a fraction of fraction compared to what other white founders coming out from a handful of US schools have managed in the recent years. So, the venture capital firm wants to shake up the norm and invest in Black founders as its focus.

    Hiles, Norman, and Green
    Hiles, Norman, and Green

    According to Norman, BlackOps is looking to invest in black founders as they are underinvested in, and who are the biggest arbitrage in tech.

    Read Also : Nigerian Startup AltSchool raises $1 million pre-seed round to help Young Africa’s get into tech

    With this funding, Whose Your Landlord is looking to expand and increase the quality of its features, by introducing new innovations like using NLPs to find trends in written reviews, to help companies with hundreds of units to better parse incoming feedback which in turn would naturally increase the quality of the service it.

    Since running pilots for its SaaS offering last year, WYL has onboarded 7,000 house units and has earlier raised $1.1 million over a roughly seven-year period, the CEO said.

    We wait to see how quickly WYL can scale its software incomes with this new funding.