According to Disrupt-Africa, Raise just launched a fundraising platform that links investors to founders through the creation of a platform that creates a virtual deal room. The platform will run simulations, even issuing complaint electronic share and convertible certificates.
Eugene Mutai and Marvin Coleby launched the Alpha project back in 2019 at the Africa Tech Summit which was based in Kigali. In January, they did a silent launch of their Beta to a select group of companies.
Now that the beta programme is public, startups have the right tools that can simplify their fundraising process. This eases the process of tracking deals remotely across Africa. As of January 2020, Raise had translated over $20 million and is used by many startups in Nigeria and Kenya. The most notable players are Helium Health, which recorded a $20 million Serie A round and other players like Chrysalis Capital and Microtraction.
As founders, the duo feels they are best placed to offer solutions to other founders. That way they will bring transparency, security, and visibility to the African venture capital space. Part of the bottlenecks affecting African startups from raising funds is getting caught tied up with the due diligence process, a problem they intend to solve.