Tappi, a rising star in the digital commerce arena, has secured $1.5 million in pre-seed funding to propel its expansion across Nigeria and Kenya. This investment will fuel Tappi's mission to empower small and medium-sized enterprises (SMEs) with its comprehensive SaaS platform, streamlining their journey towards digital success.
The funding round was spearheaded by Mercy Corps Ventures and Chui Ventures, attracting renowned investors like Digital Currency Group, SOSV, Resilience17, growX Ventures, Orbit Startups, and Reflect Ventures. Angel investors and advisors from tech giants like Google, Salesforce, and Zendesk also joined the syndicate, signifying widespread confidence in Tappi's vision.
SMEs are the lifeblood of the African economy, playing a crucial role in GDP and employment. However, navigating the digital landscape often presents challenges, hindering their ability to fully leverage the power of digital tools. Tappi steps in to bridge this gap, offering a user-friendly platform that equips SMEs with the essential tools they need to thrive:
- Build a Strong Online Presence: Tappi creates SEO-optimized websites in minutes, boosting online visibility and attracting new customers.
- Engage with customers. Seamlessly: Tappi facilitates customer interaction through reviews and other features, fostering trust and loyalty.
- Simplify Payment Processing: Tappi streamlines the payment process, enabling businesses to receive customer payments efficiently.
- Target Ads with Airtime: Tapping into partnerships with mobile network operators, Tappi allows businesses to purchase ads using readily available airtime, eliminating the need for credit cards.
- Craft Effective Ad Copy with AI: Tappi's AI-powered tool assists businesses in crafting compelling ad copy, maximizing their return on investment.
Beyond empowering businesses, Tappi is committed to building a sustainable business model. The company offers tiered subscription plans starting at $2, with significant traction in the $2–$19 range. Tappi has also witnessed impressive growth, with a 19% month-over-month increase in both business ads and data bundle subscriptions, solidifying its value proposition for African SMEs.
"We are immensely grateful for the support of our esteemed investors," stated Kenfield Griffith, CEO of Tappi. "Their belief in our vision fuels our mission to unlock the untapped potential within Africa's informal SME markets. We are dedicated to providing SMEs with a trusted online identity, empowering them to reach new customers and flourish in the digital age."
This funding will enable Tappi to invest strategically in key areas such as talent acquisition, brand building, and expansion into new African markets. The company is also exploring strategic partnerships to further enhance its platform and services, ultimately aiming to become the go-to digital commerce solution for African SMEs.
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