Happy Pay Raises $1.8M in Pre-Seed Round to Expand BNPL Services in South Africa
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South African fintech company Happy Pay, which specializes in Buy Now, Pay Later (BNPL) services, has successfully raised R32 million ($1.8 million) in pre-seed funding. The round was co-led by E4E Africa and 4Di Capital, with participation from DotExe Ventures, Launch Africa, Equitable Ventures, Felix Strategic Investment, U.S.-based Gaingels, and several local angel investors.
Additionally, Fin Africa, a provider of credit, savings, and insurance, has backed Happy Pay’s debt facility. This financial boost will help the fintech launch new products, expand its marketing efforts, and grow its merchant base. The company also plans to strategically increase its team while focusing on efficient growth.
Wesley Billett, co-founder and CEO of Happy Pay, said, "This funding will enable us to accelerate our growth and expand our innovative product offerings, ultimately providing more value to the customers and merchants we serve."
Happy Pay, which was launched in 2023, offers a unique BNPL solution with no interest or deposits. It currently boasts 150,000 active users and utilizes AI-driven credit scoring to assess affordability, ensuring a smooth checkout process for both consumers and merchants.
Source: Abdullah Ajibade / TechPoint Africa
Happy Pay
Happy Pay lets you shop at your favourite online stores. But, instead of paying upfront, you split the cost of the items over your next two paycheques.
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