Nigeria based start-up Termii has secured USD 1.4 million funds on 19th of March, 2021 in a seed round led by Future Africa.
Investors: The acquisition of USD 1.4 million funds took place in the seed funding round led by Future Africa along with the involvement of previous investors like Y combinator, Future Hub and Microtitration.
What the funding is for: The fresh funding would be utilized to expand the company’s reach all over the world. According to sources the organization is also aiming to develop and improve their infrastructure.
About the company: Termii is a privately held organization which operates under the Telecommunications industry. Its headquarters is established in Lagos and has a work strength of around 11-200 employees. They also deal with various specialties like email marketing, commerce financing and customer retention.
What the CEO has to say: “Termii’s round is also noteworthy because it strays away from the usual fintech, mobility, aggrotech and cleantech sectors that investors typically notice. In fact, there are only a handful of venture backed communications platforms as a service companies on the continent. A notable example is Kenya’s Africa talking. It might be a stretch to say we might see more funding activity from this segment, but one thing is apparent investors are willing to place bets on less popular sectors.” — Emmanuel Gbolade, Co-founder of Termii.
“In early 2020 Termii started seeing immense progress and this coincided with their acceptance to Y combinator. The growth continued throughout the year. Growing its messaging transactions by 1,000% and experiencing an increase in its ARR. Spilling into this year the company’s revenue is growing by 60% month on month as a result of the surge in online financial transactions.” — Aypomide Awe, Co-founder of Termii.
What the investors have to say: “Kepple Africa ventures the co-lead is also an active investor and can be argued to be the most early stage VC firm on the continent in terms of the number of deals made. Speaking on the investment for Kepple Africa, Satoshi Shinada, a partner at the firm. Fragmented and unstable communication channels are one of the biggest challenges for digitalization of businesses in Africa. Emmanuel has proven that with his visionary goals and solid implementations of iterations on the ground, his team is unparalleled to build an innovative solution in this space.” — General manager at Kepple Africa Ventures.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
Next Article
[…] Nigeria based start-up Termii raises USD 1.4 Million funds […]