Tappi, an Africa-based digital commerce Software as a Service (SaaS) solution focused on small and medium-sized businesses (SMEs), has raised $1.5 million in a pre-seed funding round. Read our article to learn more about how to raise seed funding for a startup.
SaaS Investors
The investment was led by Mercy Corps Ventures and Chui Ventures, with participation from Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups, Reflect Ventures, and angel investors from tech giants like Google, Salesforce, and Zendesk.
Mercy Corps Ventures was founded in 2015, as the impact investing arm of Mercy Corps. It invests in and catalyzes venture-led solutions to increase the resilience of underserved individuals and communities.
Chui Ventures is an investment company with a focus on venture capital investments. The company seeks to back exceptional African companies at the early stage of their growth.
Tappi Use of Funds
The startup plans to use the funding to double down on existing markets, focus on talent acquisition, and strengthen overall brand building.
About Tappi
Founded in 2022 by Kenfield Griffith and Louis Majanja, Tappi offers an end-to-end digital commerce solution for SMEs. The tappi platform simplifies the process of creating and managing online business profiles for SMEs, helping them showcase products, engage with customers, and accept payments. Tappi’s unique features include partnerships with mobile network operators, currently with MTN, enabling businesses to purchase ads using airtime. The platform also offers an AI tool for generating ad descriptions, addressing a common challenge for SMEs in crafting compelling ad copies. Its mission is to help local businesses thrive to become the bedrock of African economies.
Funding Details
Company: Tappi, Inc.
Raised: $1.5M
Round: Pre-Seed Round
Funding Month: December 2023
Lead Investors: Mercy Corps Ventures and Chui Ventures
Additional Investors: Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups, Reflect Ventures
Company Website: https://tappi.app/
Software Category: Commerce Software
Source: https://innovation-village.com/digital-commerce-platform-tappi-secures-1-5m-in-pre-seed-funding-to-boost-smes-in-africa/