Afrigather Kippa, a monetary administration and funds platform for Nigerian small companies, introduced that it has raised $8.4 million in a brand new financing spherical. This fundraise brings the full fundraised by Kippa to $11 million.
This current fundraise noticed Kippa, welcome new international buyers, together with Goodwater Capital, TEN13 VC, Rocketship VC, Saison Capital (the enterprise arm of Credit score Saison), Crestone VC (led by Inanc Balci, Co-founder and former CEO at Lazada), VentureSouq, Horizon Companions and Vibe Capital.
Launched in June 2021 by Kennedy Ekezie-Joseph, Duke Ekezie and Jephthah Uche, Kippa began as a finance administration app the place small enterprise house owners can hold observe of their each day earnings and expense transactions, create invoices and receipts, handle stock and customarily monitor how their companies carry out over time.
Final November, the corporate introduced a $3.2 million pre-seed fundraise from Goal World and different buyers.
Kippa is without doubt one of the many monetary administration platforms corresponding to OZÉ, Bumpa and Prospa, concentrating on the 50 million SMEs in Nigeria and the bigger market throughout sub-Saharan Africa.
Final week, the corporate introduced that it obtained a Tremendous-Agent licence from Nigeria’s apex financial institution, the Central Financial institution of Nigeria (CBN), identical to different company banking gamers OPay and TeamApt.
“What this licence does is that it permits us to empower all our clients with instruments, and infrastructure to not simply settle for funds, however to begin to provide monetary companies to their finish clients,” Ekezie-Joseph advised TechCabal in an earlier interview. “It affords us the chance to implement integration with the nationwide switches and permits us to supply business-to-business and platform and companies to different fintechs.”
With the licence, retailers on the Kippa platform can, in flip, act as brokers and provide monetary companies corresponding to money withdrawals and deposits, checking account opening, payments and utility funds, and insurance coverage to particular person clients who come to their small retailers usually to make on a regular basis purchases.
Previously yr, Kippa has recruited ex-regulators and former senior executives at prime fintech startups together with OPay, BharatPe, Khatabook, TeamApt, OKCredit, NIBSS, and Unified Funds, amongst others.
“Our mission is to make it straightforward for anybody to start out and run worthwhile small companies in Africa,” Ekezie-Joseph mentioned. “It’s why we’re constructing a full suite of software program and monetary companies that allows this ambition, thereby empowering African enterprise house owners. We are saying this as a result of we’ve frolicked understanding their most vital wants.”
