Scale Expands into Africa with $700,000 Pre-Seed Funding Boost
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South African fintech startup Scale has secured $700,000 in pre-seed funding to fuel its expansion into Kenya, Zambia, and Cote d'Ivoire. The funding round was led by 54 Collective and First Circle Capital, with additional backing from Sunny Side Venture Partners and angel investors.
Scale, co-founded by Miranda Perumal and Barbara Woollams just a year ago, aims to revolutionize the payments industry by enabling fast and efficient payment solutions. As an issuer orchestration platform, Scale simplifies the card issuance process for businesses, offering modern card issuing orchestration and Infrastructure-as-a-Service (IaaS) solutions across Africa.
CEO Miranda Perumal sees the investment as a strong validation of Scale's vision and the company's potential to elevate African fintech. The startup has built key partnerships with investors, banks, networks, and payment technology providers, positioning itself for growth in the booming fintech sector. With Africa’s fintech market projected to reach $65 billion by 2030, Scale plans to capitalize on the increasing demand for seamless card issuance platforms, which are expected to handle 35% of card transactions by 2029.
Source: Abdullah Ajibade / TechPoint Africa
Enabling scale
WHAT IS SCALE? We’re Africa’s First Fintech Agency. Why Agency? Because it takes an entire ecosystem to get payment products live in a very complex African landscape. We’re, however, the single point of contact, entry, deployment & growth. The best part? We’re African & female, building for Africa, and the lives of its people.
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