KENYA – Tappi, a startup that digitizes small and medium businesses, has secured an undisclosed investment from Renew Capital Angels.
This is fresh from announcing a pre-seed raise of US$1.5 million in December 2023.
Tappi is a full-stack SaaS business built for small businesses in Africa to help them find customers online. It helps SMBs get discovered, find customers, and build their reputation using messaging, payments, and AI.
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential.
Renew Capital manages investments made on behalf of the Renew Capital Angels, a global network of angel investors, foundations and family offices who seek financial returns and sustainable social impact.
“Tappi is a catalyst for SMEs entering the digital world and with the investment, we are set to amplify this transformation across Africa’s diverse markets. We are enthusiastic about leveraging this investment to deepen our connections with SMEs on the continent,” co-founder of Tappi Kenfield Griffith said.
Tappi’s user-friendly chat tool, integrated with AI, simplifies the process of establishing webpages, guaranteeing enhanced online visibility for businesses.
Additionally, the company’s solution improves customer communication through WhatsApp, leading to reduced operational expenses and streamlined processes for direct transactions and feedback collection.
“Tappi’s operations in high-growth markets with increasing demand for digital marketing solutions and online presence solutions for small and growing businesses in Africa is remarkable. Their passion, grit and impact are among some of the things we look for at Renew Capital,” Renew Capital’s Investment Manager for Kenya, Esther Mwikali, said.
“The founders’ deep industry knowledge, extensive networks and a strong understanding of the African market, having successfully built and scaled businesses in the region before, is what we believe drives real change. We are delighted to partner with Tappi to transform how SMEs engage customers and manage their online footprint.”
The US$1.5 million Tappi raised in an oversubscribed pre-seed round six months after securing US$180,000 in funding from Orbit Startups in an accelerator programme.
Mercy Corps Ventures and Chui Ventures led the round, with participation from Digital Currency Group, SOSV, Resilience17, growX Ventures, Orbit Startups, and Reflect Ventures. Angel investors and advisors from global technology companies such as Google, Salesforce, Zendesk, and the financial sector contributed to the investment.
The funding will support tappi’s mission to enable SMEs to gain visibility and credibility in the digital commerce ecosystem.
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