YC-backed fintech Bujeti raises $2m in seed round

Key Takeaways

Across Africa, merchant acquisition is proving to be the "new" scramble for digital payment and other digital services on the continent. Offline and informal merchants exist all over Africa and account for up to 90% of businesses on the continent. Even as tens of millions of Africans have come online in the past decade, most merchants in Nigeria still run their businesses offline—from managing money to keeping track of inventory, business records, staff, and suppliers. These manual processes can be time-consuming and error-prone. As such, there’s a significantly large market of African businesses waiting to be tapped by technology startups. Bujeti is just one of many that provide a suite of services that enable small business owners to incorporate digital tools in day-to-day operations. Similar providers include Bumpa, Pastel, Bamba, OZÉ, and Kippa.