Kippa raises $3.2M in pre-seed funding
Nigeria-based Kippa recently raised $3.2 million in its pre-seed round of funding led by C Target Global. The round also saw participation from Entrée Capital, Alter Global and Rally Cap Ventures.
“For us, what we do is we have such a unique opportunity to provide financial services to users. For most of them, Kippa is the first B2B SaaS app that they’re using,” said Kippa CEO and co-founder Kennedy Ekezie. “And we do have a unique opportunity to help them accept online digital payments, to provide them with working capital, digital savings and plug them into the financial ecosystem.”
Founded in 2021, the startup offers SMEs a simple app where they can track daily income and expense transactions, create invoices and receipts, manage inventory and generally monitor how their business is functioning financially.
“What we saw was a lot of them operating very manually using the ledgers, spending one hour or more at the end of the day balancing their books, making mistakes, cancelling out, complaining of their records being incomplete,” stated Ekezie. “And we saw a bigger problem — which is the biggest problem small businesses face — the lack of access to credit or financing to run properly. So we thought that was an interesting enough problem to solve.”
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