Grace Ashiru
Tappi, a Kenyan startup specializing in a chat tool that automatically generates webpages, has successfully secured US$1.5 million in an oversubscribed pre-seed funding round. The two-year-old e-commerce platform attracted support from notable investors, including Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups, and Reflect Ventures. Leading the funding round were Mercy Corps Ventures and Chui Ventures. Additionally, participation from angel investors, financial sector advisors, and support from global tech giants such as Zendesk, Google, and Salesforce further contributed to the substantial funding achievement.
Kenfield Griffith and Louis Majanja co-founded Tappi to enable small and medium-sized enterprise (SME) owners to leverage their mobile money or airtime for marketing on platforms like Google Ads, Facebook Ads, and Instagram Ads. The app facilitates this process through a user-friendly three-step approach, allowing entrepreneurs to customize their digital presence.
Since its inception, Tappi has successfully engaged over 150,000 users and garnered verified ratings for transactions exceeding $3 million. Griffith expressed gratitude for the support of investors who share the vision and mission to tap into the untapped potential within Africa’s informal SME markets, especially in overlooked sectors such as food services, fashion, agriculture, and health and beauty.
With a focus on empowering SMEs across Africa by establishing a trusted online identity for customer acquisition, Griffith emphasized that the current investment will play a crucial role in advancing their mission. The plan includes making significant strides through direct sales and partnerships throughout the continent.
Tappi is set to fortify its direct sales approach, leveraging a dedicated sales team and leveraging a remarkable 90% retention rate. The infusion of new funding is earmarked for intensifying efforts in existing markets.
Expanding its collaboration with MTN Nigeria, which has demonstrated a noteworthy 19 percent month-on-month growth in the business ad and business data bundle subscriptions, is a key focus. Additionally, Tappi plans to forge strategic alliances, prioritizing talent acquisition and overall brand enhancement for future investments.
The allocated funding will also play a pivotal role in digitizing the company’s operations. Moreover, Tappi aims to establish online trust for small and medium-sized enterprises (SMEs) across Africa.
