Thursday, July 3, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Funding

CashBackApp, a Kenyan customer loyalty startup, has raised $475k in pre-seed funding round to help it expand

Tech Gist Africa by Tech Gist Africa
08/21/2021
in Funding, Innovator of the Week, News - East Africa, Virtual Reality
0 0
0
CashBackApp

CashBackApp

0
SHARES
Share on FacebookShare on Twitter

CashBackApp, a Kenyan customer loyalty startup, has raised a pre-seed fundraising round of US$475,000 to help scale its service in Kenya and prepare for expansion into neighboring countries.

Lofty Inc, Sherpa Ventures, and Loyal VC were among the institutional investors in the round, which also included angel investors from the United States, the United Kingdom, Nigeria, and Kenya.

CashBackApp, founded in 2018 by Simon Ngigi, enables fast-moving consumer goods (FMCG) firms to create customer loyalty by allowing users to earn cashback via M-Pesa on their everyday purchases. It started operating in 2019.

The firm collaborates with FMCG companies and merchants, who utilize the app to offer cashback to customers who purchase products that they promote on the app.

It has gained a lot of traction, with 45,000 downloads in the first half of 2021, thanks to a monthly compounded rate of 38 percent growth.

CashBackApp’s B2B customers include Coca-Cola, Colgate, and Ajab, while the merchant network includes eight prominent multi-chain retailers such as Khetias, Eastmatt, Mulleys, and Jamaa.

By December 2022, CashBackApp hopes to have reached over one million users.

 

Read more on Tech Gist Africa:

Alerzo, a Nigerian e-commerce retail startup, has raised $10.5 million in a Series A round of funding

Kenyan ed-tech start-up Ed Partners Africa has raised $1.9 million in a funding round to support affordable private schools in Africa

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Kera Senegal
Funding

KERA, a Senegalese E-Health Startup Secures $10 Million Funding

by Tech Gist Africa
06/15/2025
0

Senegalese e-health startup KERA Health Platforms has raised US$10 million in funding from the International Finance Corporation (IFC), a member...

Read more
Nile South Africa

Nile, a South African Agri-Tech Startup Secures $11.3 Million in a funding round

06/15/2025
Salpha Energy Nigeria

Salpha Energy, a Nigerian Clean Energy Startup Secures $1.3 Million Investment

06/15/2025
COREangels

COREangels MEA Launches $10 Million Fund to Support Early-Stage Startups in the Middle East and Africa

06/15/2025
Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

06/15/2025
Next Post
Facebook Horizon Workrooms

Facebook is launching Horizon Workrooms for virtual workspace

JP Morgan announces a $20 million fund for black-owned businesses in South Africa

JP Morgan announces a $20 million fund for black-owned businesses in South Africa

Chioma Abone and Emmanuela Ilok

Two Nigerian students develop an app to combat kidnapping in Nigeria

No Result
View All Result

The Big 5

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.