Daba Facilitates BuuPass’s funding through its Managed investment Vehicle and Institutional Network
2 min Read November 20, 2023 at 11:36 AM UTC
FUNDRAISING CASE STUDY
Company Name: BuuPass
About the Company
BuuPass operates an online booking platform for bus, train, and flight tickets in East Africa. Their marketplace makes travel booking more convenient.
– Online travel booking marketplace, founded in 2019
– Headquarters: Nairobi, Kenya
– Sectors: Bus, train, flight tickets
– Business model: B2B2C
Fundraising: The Daba Advantage
Daba enabled BuuPass to raise funds from both retail and institutional investors:
Retail via Direct SPV investment:
BuuPass aimed to access capital from Daba’s expansive retail investor base and went through our meticulous investment screening process. Upon approval, they were listed live on the Daba application, and we initiated capital calls. It’s pivotal to highlight that all funds were consolidated into a single SPV, ensuring that Daba made a singular, streamlined entry on the cap table.
Institutional via Daba Institutional Investor Network:
While Daba facilitated the initial introduction, we ensured BuuPass and investors had the forefront in the subsequent dialogues. This approach proved fruitful as, upon successful investment from Kompass Ventures, BuuPass remunerated Daba with a pre-determined success fee, correlating with the significant amount invested. This underscores our effective strategy in bridging startups with potential investors.
– Minimum investment: $500 per retail investor via Daba
– Total raised: $1.3 million pre-seed round
– Lead investors: Founders Factory Africa, FrontEnd Ventures, Kompass Ventures
Impact of the fundraising round
The capital will support BuuPass’s growth in Kenya and Uganda. They plan to expand their team and build infrastructure to scale across Africa. Leveraging Daba’s platform and network, BuuPass efficiently raised necessary expansion capital from a diverse group of investors.
From the BuuPass CEO
“Daba was an essential and very useful partner in our capital raise. Their service accelerated our fundraising. Would highly recommend Daba to any startup looking to access retail and institutional capital”
BuuPass Fundraising in the News
Learn how you too can access global capital pools through Daba.
Reach out to us at: firstname.lastname@example.org
Message us on WhatsApp https://wa.me/18554003222
This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Articles do not reflect the views of DABA ADVISORS LLC and do not provide investment advice to Daba’s clients. Daba is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.