Kippa, a platform for financial management and payments for small enterprises in Nigeria, announced that it had raised $8.4 million in a fresh round of funding.
New international investors from a number of different sectors participated in this funding round, including Goodwater Capital, TEN13 VC, Rocketship VC, Saison Capital (the venture arm of Credit Saison), Crestone VC (led by Inanc Balci, co-founder and former CEO of Lazada), VentureSouq, Horizon Partners, and Vibe Capital.
Kippa began as a finance management app where small business owners could keep track of their daily income and expense transactions, create invoices and receipts, manage inventory, and generally keep track of how their businesses performed over time.
The company was founded in 2021 by Kennedy Ekezie-Joseph, Duke Ekezie, and Jephthah Uche.
Kippa began as a finance management app where small business owners could keep track of their daily income and expense transactions, create invoices and receipts, manage inventory, and generally keep track of how their businesses performed over time.
The company revealed last week that it has been granted a Super-Agent license by the Central Bank of Nigeria (CBN).
With the license, business owners on the Kippa platform can operate as agents and provide individual clients who frequently visit their small businesses to make regular purchases with financial services like cash withdrawals and deposits, bank account opening, bill and utility payments, and insurance.
Our goal, according to Ekezie-Joseph, is to make it simple for anyone to launch and manage successful small enterprises in Africa. We are creating a comprehensive suite of financial and digital services to support this objective and empower African business owners as a result. We say this because we took the effort to comprehend their most pressing demands.
With this new funding, Kippa has now raised $11 million in total.
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