Chpter Raises $1.2M to Expand Social Commerce Platform in Africa

STARTUP VENTURE CAPITALSeptember 3, 2024 at 12:21 PM UTC

TLDR

Chpter, a Kenyan social commerce platform, secures $1.2 million in pre-seed funding led by Ken Njoroge of PANI for product development and sales enhancement.
Chpter assists merchants in boosting sales on WhatsApp and Instagram through automated marketing, conversations, and payments.
With operations in Kenya and South Africa, Chpter aims to expand to Nigeria, Ghana, Egypt, and Morocco soon.

Kenyan social commerce platform Chpter has raised $1.2 million in a pre-seed funding round led by Ken Njoroge of PANI, cofounder and former CEO of Cellulant to accelerate product development and boost sales and marketing efforts.

The round also saw participation from Plesion Capital, Techstars, Norrsken, Renew Capital, ViKtoria Ventures, and notable angel investors including Benjamin Fernandes of NALA and Paul Kimani and Jackson Kibigo of Workpay.

Founded in 2021, Chpter helps merchants increase sales on social platforms like WhatsApp and Instagram by automating conversations, marketing, and payments. Operational in Kenya and South Africa, Chpter plans to expand to Nigeria, Ghana, Egypt, and Morocco in the coming months.

Points clés à retenir

This funding positions Chpter to tap into Africa’s rapidly growing E-commerce market, projected to reach $75 billion by 2025. As social commerce becomes a critical component of online retail, Chpter and other similar platforms hope to address inefficiencies in product discovery, selection, and payment processes, enabling businesses to shorten sales cycles on platforms like WhatsApp and Instagram. The rise of similar platforms, such as Sukhiba Connect, underscores the competitive landscape in Kenya and the broader African market, where social commerce is emerging as a major growth driver.

Venture Capital

Chpter

Cellulant

PANI

Plesion Capital

Techstars

Norrsken

Renew Capital

ViKtoria Ventures

NALA

Workpay

Fintech