Tappi- an end-to-end digital commerce SaaS has raised $1.5 million in a pre-seed round led by Mercy Corp ventures and Chui Ventures.
This is according to a statement from the company signed by its account manager, Erhumu Bayagbon. The company noted that other venture capitalists like- Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups and Reflect Ventures also participated in the seed round.
The statement reads,
- “Tappi, an end-to-end digital commerce SaaS solution tailored for small and medium-sized businesses, has raised $1.5M in an oversubscribed Pre-Seed round led by Mercy Corps Ventures and Chui Ventures. With participation from Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups and Reflect Ventures, the investment also saw contributions from angel investors and advisors from global tech companies, including Google, Salesforce, Zendesk and the financial sector.”
The company further explained that the funds raised will be channelled into branding, talent retention, and empowering its mission to help SMEs gain visibility and build trust in the e-commerce ecosystem.
What the CEO said
Speaking on the $1.5 million raise, the CEO and co-founder of Tappi said,
- “We are grateful to be supported by great investors who share our vision and the mission to address the untapped potential within Africa’s informal SME markets, particularly in overlooked service industries such as food services, fashion, and agriculture, and health and beauty. We are eager to empower SMEs across Africa by providing them with a trusted identity online to find customers.”
The Chief Enterprise Business Officer for MTN Nigeria, Lynda Saint-Nwafor who is a partner to Tappi in its work said the company is committed to boosting over 40 million MSMEs with tech solutions.
Its partnership with Tappi brings MTN Thryve, connecting SMEs to customers on Facebook and Instagram using MTN data and airtime.
