tappi raises $1.5m pre-seed to digitize SMEs in Africa
tappi, an end-to-end digital commerce SaaS (Software as a Service) solution designed for small and medium-sized businesses (SMEs), has raised $1.5 million in a pre-seed funding round. This fundraising effort positions tappi to streamline the process of establishing and managing online business profiles, providing SMEs with tools to showcase their products and services, engage with customers, and facilitate online payments.
The round was led by Mercy Corps Ventures and Chui Ventures, with participation from notable entities such as Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups, Reflect Ventures, and involvement from angel investors and advisors associated with prominent global tech companies like Google, Salesforce, and Zendesk.
The infusion of capital will enable tappi to intensify its presence in existing markets, with a primary focus on talent acquisition and overall brand building. This strategic use of funds aligns with tappi's mission to enhance digital commerce capabilities for SMEs.
Key Takeaways
Merchant acquisition is emerging as a pivotal focus for digital payment and other digital service providers across Africa. Small and Medium-sized Enterprises (SMEs) play a crucial role in the African economy, contributing approximately 50% to the continent's GDP and employing over 80% of the workforce. Despite their significance, SMEs face numerous challenges, including the need to digitize their operations to capitalize on the advantages of the digital age. Recognizing the vast untapped potential in this market, technology startups are keenly pursuing opportunities to provide services that empower small business owners to integrate digital tools into their daily operations. Bujeti stands out as one such provider, offering a comprehensive suite of services to facilitate the digital transformation of SMEs. Other similar providers contributing to this digital revolution in Africa include Bumpa, Pastel, Bamba, OZÉ, and Kippa. This trend reflects a broader effort to support and enable the growth of small businesses by leveraging technology to address their unique challenges and unlock new opportunities in the digital landscape.
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