Kenyan Tappi, Secures $1.5 Million in Pre-Seed Investment Boost

Tappi, a Kenyan startup renowned for its chat tool that auto-generates web pages, has managed to raise $1.5 million in a pre-seed funding round that witnessed overwhelming investor interest. This two-year-old e-commerce venture garnered backing from prominent entities like Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups, and Reflect Ventures. Leading contributions came from Mercy Corps Ventures and Chui Ventures. Notably, angel investors, financial consultants, and support from tech behemoths like Zendesk, Google, and Salesforce further bolstered the funding round.

Founded by Kenfield Griffith and Louis Majanja, Tappi’s vision centers on empowering small and medium-sized enterprises (SMEs) to utilize their mobile money or airtime for advertising on platforms such as Google Ads, Facebook Ads, and Instagram Ads. The platform simplifies this by offering a streamlined three-step process, enabling entrepreneurs to tailor their digital footprint.

Since its establishment, Tappi has onboarded over 150,000 users, with transaction ratings surpassing a commendable $3 million. Griffith conveyed appreciation for the backers who resonate with Tappi’s objective: unlocking the vast potential within Africa’s informal SME sectors, spanning industries like food services, fashion, agriculture, and health & beauty.

Prioritizing the empowerment of African SMEs by crafting a reliable online presence for customer engagement remains paramount for Tappi. Griffith highlighted that the fresh investment will be instrumental in propelling this vision forward, with plans to amplify direct sales initiatives and cultivate partnerships across Africa.

Tappi aims to bolster its sales strategies, capitalizing on an impressive 90% customer retention rate. The new capital injection will further fuel expansion efforts in established markets. Strengthening ties with MTN Nigeria, which has exhibited a robust 19% month-on-month growth in business advertisements and data bundle subscriptions, stands as a strategic objective. Additionally, Tappi eyes forging beneficial collaborations, emphasizing talent recruitment and enhancing its brand stature.

This funding round will also facilitate Tappi’s digital transformation efforts. The company remains committed to fostering online credibility for SMEs across the African continent.