Kenyan startup Tappi has successfully secured $1.5 million in pre-seed funding, led by notable investors Mercy Corps Ventures and Chui Ventures.
This strategic investment positions Tappi to extend its reach to over 100 million small and medium-sized enterprises (SMEs) across Africa, aiming to empower them in the rapidly evolving digital commerce arena. Tappi’s innovative platform serves as a catalyst for SMEs, enabling them to swiftly establish online storefronts, create SEO-optimized websites, and leverage airtime for purchasing advertisements.
The injection of capital comes at a pivotal moment for Tappi, aligning with the startup’s mission to facilitate the digital transformation of businesses and contribute to inclusive economic growth on the continent. The funds will be instrumental in fueling Tappi’s ambitious expansion plans, bringing its user-friendly e-commerce solutions to a broader audience of entrepreneurs.
Tappi’s current trajectory towards profitability is underlined by a substantial increase in subscribers and an impressive 19% month-over-month growth in business ads and data bundle subscriptions. The startup’s impact on the African SME landscape is vividly illustrated by success stories like that of Little Red, a boutique in Nairobi that, with Tappi’s assistance, transitioned from a local player to a global force in the fashion industry.
Tappi’s success serves as a beacon of hope for Africa’s e-commerce sector and small businesses continent-wide. With its forward-thinking approach and commitment to empowering SMEs, Tappi is poised to take a leading role in driving Africa’s digital transformation and fostering inclusive economic growth. The funding secured marks a pivotal milestone in Tappi’s journey and heralds a new chapter in the advancement of e-commerce across the continent.
By: Delino Gayweh
Serrari Financial Analyst
7th December, 2023
