Grace Ashiru
Zuvy, a Nigerian invoice financing startup, has announced the successful procurement of a $4.5 million investment in a funding round comprising both equity and debt.
Investment firms TLG Capital and Dunbar Capital took the lead in the financing, followed by Next Chymia Consulting HK, Vicus Ventures, represented by Khalil Osman, and Advent International’s chairman, David Mussafer, among several other investors.
Zuvy is recognized for its financing capabilities and offering complimentary software solutions for invoice and purchase order management, allowing large businesses to streamline their procurement operations. The company was established in 2021 by Angel Onuoha, a Harvard College graduate, and Ahmad Shehu, Zuvy’s CTO and a previous senior developer at Mono.
CEO and co-founder Angel Onuoha reflected on the mission of Zuvy: “Capital, bound in receivables, restricts millions of small businesses across Africa. Our core mission is to give these enterprises the liquidity they need exactly when needed. This financial agility ensures that SMEs can better navigate cash flow, broaden their customer base, and confidently take on new contracts.”
With this fresh infusion of Capital, Zuvy plans to broaden its footprint and meet the escalating needs of vendors across Nigeria.
