Kenya’s TopUp Mama raises $1.7m seed spherical to help African eating places
Kenyan startup TopUp Mama, which offers African eating places with entry to provides, monetary providers and enterprise administration instruments, has closed a US$1.7 million seed funding spherical to speed up its development.
Based by Njavwa Mutambo, Emilie Blauwhoff and Andrew Kibe in 2021, TopUp Mama is a one-stop-shop for eating places in Kenya and Nigeria that gives them with all the required provides, short-term credit score and instruments wanted to handle their companies.
Since elevating its pre-seed spherical 10 months in the past, the corporate has grown by over 1,000 per cent, signed up over 3,000 eating places, and expanded into Nigeria. It has now closed a US$1.7 million seed spherical. Led by Ventures Platform and JAM Fund, the spherical additionally options Subsequent Billion Ventures, Future Africa, Jedar Capital, HoaQ Fund, First Verify Africa and DFS Lab.
TopUp Mama will use the funds to speed up its development, construct out its expertise, and scale its gross sales administration instruments for eating places.
“I grew up within the restaurant enterprise in Zambia, and I do know first-hand the ability small companies have in remodeling lives. For this reason we’re captivated with rising restaurant contribution to Africa’s GDP,” stated Njavwa Mutambo, TopUp Mama’s CEO.
“We imagine we now have a novel alternative to construct Africa’s most outstanding restaurant accomplice and construct one of many largest firms Africa has ever seen.”
Ventures Platform founder Kola Aina stated he was enthusiastic about TopUp Mama’s affect throughout eating places – “which function the heartbeat of neighbourhoods in Africa”.
“Topup Mama empowers restaurant house owners with entry to inexpensive foodstuffs and highly effective knowledge analytics to ship the scrumptious meals that maintain us sustained and produce us collectively. Importantly, in addition they assist eating places develop their buyer base whereas enhancing effectivity,” he stated.