Kenyan Startup tappi Secures $1.5 Million in Pre-Seed Funding
Kenyan startup tappi has successfully raised $1.5 million in an oversubscribed pre-seed funding round.
The company specializes in assisting Small and Medium Enterprises (SMEs) in establishing a robust online identity through its innovative chat tool, which automatically generates a webpage for businesses.
Founded by Kenfield Griffith and Louis Majanja, tappi's platform enables SME owners to effortlessly create and promote their businesses using a three-step process.
Users can download the app, customize their business's "look and feel," and then seamlessly advertise on Google Ads, Facebook Ads, and Instagram Ads, utilizing airtime credit or mobile money.
The pre-seed round, which attracted more investment interest than initially anticipated, was led by Mercy Corps Ventures and Chui Ventures.
Notable contributions also came from Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups, Reflect Ventures, as well as angel investors and advisors affiliated with global tech giants such as Google, Salesforce, Zendesk, and the financial sector.
tappi's end-to-end digital commerce Software as a Service (SaaS) solution has already garnered verified reviews for transactions totaling $3 million and engaged with over 150,000 consumers.
With the fresh injection of funds, the startup is poised to expand its footprint in existing markets, emphasizing the establishment of a robust sales force to drive direct sales.
Leveraging an impressive 90% retention rate, tappi also aims to establish strategic partnerships, building on its existing successful collaboration with MTN Nigeria.
This partnership has witnessed a notable 19% month-on-month growth in business ads and business data bundle subscriptions.
Speaking on the funding achievement, Kenfield Griffith expressed gratitude for the support from investors who share tappi's vision.
He highlighted the startup's commitment to tapping into the untapped potential within Africa's informal SME markets, particularly in sectors such as food services, fashion, agriculture, health, and beauty.
The investment will not only support direct sales initiatives but also focus on talent acquisition and overall brand building, furthering tappi's mission to empower SMEs across Africa by providing them with a trusted online identity to connect with customers.
Tom Jackson / Disrupt Africa