ProXalys Raises $500,000 in Funding to Drive Digital Revolution in B2B Commerce

ProXalys Raises $500,000 in Funding to Drive Digital Revolution in B2B Commerce

By Staff Writer, 31 January 2024

Senegalese startup ProXalys, specializing in digital transformation within B2B commerce, has successfully secured a funding round of US$500,000 to support its expansion efforts.

Established in 2021 by founder Thierno Sakho, ProXalys has a mission to revolutionize and empower informal traders in Senegal by digitizing the entire value chain and reimagining supply chain processes.

The startup has extended its operations to Tunisia and garnered a US$500,000 funding round, primarily led by 216 Capital, a seed fund based in Tunisia.

Noteworthy contributors include Haskè Ventures and Digital Africa through its FUZE program.

The newly acquired funds will be directed towards expediting the market launch of ProXalys' latest product, ProBoutik, and reinforcing its data and AI teams in both Tunisia and Senegal.

Hassen Arfaoui, Principal Investment Manager at 216 Capital, underscored the significant role of ProBoutiK in advancing digitalization and financial inclusion within Africa's informal retail sector.

He stated, "The collaboration reflects a shared belief in the necessity of financial inclusion and digital transformation to drive sustainable economic development in the region."

This recent funding round follows ProXalys' earlier success in securing a US$150,000 pre-seed round of funding in 2022.

Source: Tom Jackson / Disrupt Africa

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