Nigerian startup Kippa raises $8.4m to expand offerings to Nigerian SMEs
Kippa, a Nigerian financial management and payments platform, announced Monday that it has raised $8.4 million in a new funding round.
The round included participation from global investors, including Goodwater Capital, TEN13 VC, Rocketship VC, Saison Capital (the venture capital arm of Credit Saison), Crestone VC (led by Inanc Balci, co-founder and former CEO of Lazada), VentureSouq, Horizon Partners and Vibe Capital.
Founded in June 2021 by Kennedy Ekezie-Joseph, Kippa provides digital business and financial management solutions to Nigerian SMEs.
The startup said it has secured support from international investors to develop products that will help SMEs grow their businesses.
He said he raised $3.2 million in pre-seed funding in November 2021 with the idea of onboarding merchants with an easy-to-use mobile accounting app to help them digitize accounting and to collect debt from customers.
According to the startup, since the pre-seed announcement in November last year, it has made huge strides in recruiting former regulators and former senior executives to top startups, including OPay , BharatPe, Khatabook, TeamApt, OKCredit, NIBSS, and Unified Payments, among others.
Kippa said it has also obtained a license from the Central Bank of Nigeria (CBN) to operate as a super agent in the payment solution service license category.
He said the license allows him to leverage his explosive business distribution to transform daily neighborhood stores into a one-stop-shop for essential financial services such as cash withdrawals and deposits, account opening banking, utility bills and payments, and insurance.< /p>
Speaking on the funding round in a statement, CEO Kennedy Ekezie-Joseph said, "We expect the number of small digital businesses to grow exponentially over the next three to the next five years. As more and more small businesses go online, Kippa will own the money button on those merchants' devices.
"Our mission is to make it easy for anyone to start and run profitable small businesses in Africa. That's why we're building a comprehensive suite of financial software and services that enable this ambition, empowering business owners African businesses the means to act. We say this because we have spent time understanding their most important needs."
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Kippa, a Nigerian financial management and payments platform, announced Monday that it has raised $8.4 million in a new funding round.
The round included participation from global investors, including Goodwater Capital, TEN13 VC, Rocketship VC, Saison Capital (the venture capital arm of Credit Saison), Crestone VC (led by Inanc Balci, co-founder and former CEO of Lazada), VentureSouq, Horizon Partners and Vibe Capital.
Founded in June 2021 by Kennedy Ekezie-Joseph, Kippa provides digital business and financial management solutions to Nigerian SMEs.
The startup said it has secured support from international investors to develop products that will help SMEs grow their businesses.
He said he raised $3.2 million in pre-seed funding in November 2021 with the idea of onboarding merchants with an easy-to-use mobile accounting app to help them digitize accounting and to collect debt from customers.
According to the startup, since the pre-seed announcement in November last year, it has made huge strides in recruiting former regulators and former senior executives to top startups, including OPay , BharatPe, Khatabook, TeamApt, OKCredit, NIBSS, and Unified Payments, among others.
Kippa said it has also obtained a license from the Central Bank of Nigeria (CBN) to operate as a super agent in the payment solution service license category.
He said the license allows him to leverage his explosive business distribution to transform daily neighborhood stores into a one-stop-shop for essential financial services such as cash withdrawals and deposits, account opening banking, utility bills and payments, and insurance.< /p>
Speaking on the funding round in a statement, CEO Kennedy Ekezie-Joseph said, "We expect the number of small digital businesses to grow exponentially over the next three to the next five years. As more and more small businesses go online, Kippa will own the money button on those merchants' devices.
"Our mission is to make it easy for anyone to start and run profitable small businesses in Africa. That's why we're building a comprehensive suite of financial software and services that enable this ambition, empowering business owners African businesses the means to act. We say this because we have spent time understanding their most important needs."
Support the integrity and credibility journalism of PREMIUM TIMES Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government. For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour. By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.Donate
[embedded content]TEXT ANNOUNCEMENT: Call Willie - +2348098788999
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