The investment will be channeled towards product improvement, scaling the team, and venturing into fintech.
Kippa, a bookkeeping app for small businesses in Nigeria has announced a pre-seed fundraising of $3.2 million. The startup is passionate about the future of financial management of SME finance in Nigeria and Africa. The pre-seed round, one of the largest in sub-Saharan Africa, will be channeled towards product improvement, scaling the team, and venturing into fintech.
This financing round is led by Target Global (based in Berlin) and other participating investments from Entrée Capital, Alter Global, and Rally Cap Ventures. A number of angel investors took part in the round among them Raffael Johnen, Babs Ogundeyi, Chris Bouwer, Kyane Kassiri, Edward Suh, and Sajid Rahman.
Business owners get to track their daily income and expense transactions via Kippa’s simple app that allows tracking of daily income and expense transactions, creation of invoices and receipts, managing inventory, and monitoring how businesses flow over time.
Kippa was founded in 2021 by Kennedy Ekezie, Duke Ekezie and Jephthah Uche. In 2019, The group had previously formed Africave a software talent matching platform. The app claims to have grown at 126% month-on-month since its June launch. There are over 130,000 active businesses that range from micro-traders to high-end merchants. Kippa has thus far recorded over $300 million in revenues over the past five months.