Lengo Raises Multiple Six Figures via Daba Managed Investment Vehicle

2 min Read November 20, 2023 at 1:08 PM UTC

FUNDRAISING CASE STUDY

Company Name: Lengo

About the Company

Lengo provides an AI-powered marketing intelligence platform for FMCG companies in Africa to optimize sales and distribution.

– AI-driven marketing intelligence platform, founded in 2021

– Headquarters: Dakar, Senegal

– Sector: Artificial Intelligence, SaaS

– Business model: B2B

Founders

Max A Smith, CEO, has 7 years experience in marketing research and sales roles.

Ismaila Seck, CTO, has a PhD in AI and specializes in deep learning models.

Roger-Xavier Macia, CCO, was previously Chief Commercial Officer at Jumia.

Fundraising: The Daba Advantage

Daba enabled Lengo to raise funds from both retail and institutional investors:

Direct SPV investment: Lengo 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 Lengo and investors had the forefront in the subsequent dialogues. This approach proved fruitful as, upon successful investments from the institutional investors, Lengo remunerated Daba with a pre-determined success fee, correlating with the multiple six figures amount invested. This underscores our effective strategy in bridging startups with potential investors.

Investment Overview

· Minimum investment: $200 per retail investor via Daba

· Total raised: Seven-figure pre-seed round

· Lead investors: Ventures Platform Fund, Acasia

Investment Overview

The capital will support improving Lengo’s AI capabilities, geographic expansion, and growing the team. Through Daba’s capabilities, Lengo secured the funding needed to scale their innovative AI platform across new African markets.

From The Lengo CEO:

“Daba’s managed SPV allowed business angels from across Africa and beyond to join the Lengo adventure. We appreciate how hard Anthony and Boum are working to unlock investment opportunities for all. Wishing Daba the best to come!”