TechInAfrica – Latest funding round took place in Nairobi’s first mobile enterprise software for Africa’s micro-merchants, Bamba, with secured $3.2m in hands.
Following 468 Capital leads and participation from Presight Ventures, Jigsaw VC, and several angels like Mato Perie and Laurin Hainy, the funding is aimed at catalyzing the mobile app development with the right team size and skills, as well as expanding their user base across 12 sub-Saharan African countries.
With Bamba, merchants are supposed to get their business up and running without much hassle, all with the help of their smartphones. Merchants can manage customers, payments, and takeout cash with the app. The highlight is in the ‘simple tools’, the website stated.
Bamba is Bastian Gotter and Martin Schramm’s answer this year to the intricate payment and financial record system that African merchants have. The cofounders see that they could make the system more efficient by making digital transactions available for merchants where credit transactions could also apply.
“We truly believe entrepreneurship is essential to prosperity, so we make running a small business easier by building mobile-first small business software for Africa,” Gotter says.
On the investment, Ludwig Ensthaler from 468 Capital says that they are thrilled to invest and support the team and vision at the company.
“We feel that the investment opportunities in ‘enterprise’ software focused on small businesses in Africa are significant and remain largely untapped. We believe that Bamba is well placed with a great product and a solid founder to build a category-defining company,” he adds.
Gotter shares what the support means for him and his team,” It allows us to scale the platform, the team, and gives us access to insights from our high caliber of investment partners.”
The company is also opening several remote positions on its website.