Monday, September 1, 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

Pastel, a bookkeeping and customer relationship management platform based in Nigeria, raises $5.5 million in seed funding

Tech Gist Africa by Tech Gist Africa
08/17/2022
in Funding, News - West Africa, Startups
0 0
0
Pastel Nigeria

Pastel Nigeria

0
SHARES
Share on FacebookShare on Twitter

In a seed funding round, the company known as Pastel (previously known as Sabi Cash) raised a total of $5.5 million. Pastel is embarking on a quest to develop digital technology to unleash the value of smaller firms in Nigeria and other emerging markets across the world. 

TLcom Capital led the funding round. 

Participating in the seed round were Global Founders Capital (GFC), Golden Palm Investments, DFS Labs, Ulu Ventures, Plug and Play, and Soma Cap. 

In order to launch Sabi, its flagship product, Pastel raised $620,000 in pre-seed funding last year. Sabi enables SMEs to monitor their transactions, manage their customers, and gain insights into their cashflows before issuing receipts or invoices. Pastel was founded by Stanford graduates Abuzar Royesh, Olamide Oladeji, and Izunna Okonkwo. 

“Our plan was to gain traction rapidly by providing a free and simple solution to a merchant’s problem. Value capture was the next stage. Due to the fact that our clients adore the Sabi app, we added value capture tools to it. We are currently building a lot more, according to Okonkwo. 

According to the business, over 100,000 merchants have signed up for its bookkeeping and customer relationship management software over the past nine months, and it presently serves over 45,000 active merchants. 

The startup intends to use the additional capital to develop tools that assist micro, small, and medium-sized enterprises in growing their customer bases, handling payments, gaining access to financial services, and participating fully in the digital economy.

 

Read more on Tech Gist Africa:

Youverify, a Nigerian identity verification startup, has raised $1 million in seed funding

Hashgreed, a Nigerian NFT marketplace, has raised $1 million to expand its NFT and asset tokenization efforts in Africa

Moove, a Nigerian mobility fintech startup, has raised $20 million in funding from British International Investment

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

GITEX Nigeria 2025
Events

GITEX Nigeria 2025: A Landmark Event for Africa’s Digital Future

by Tech Gist Africa
09/01/2025
0

Nigeria is set to host the inaugural GITEX Nigeria from September 1–4, 2025, marking a significant milestone in the nation's...

Read more
Agriculture Africa

Ghana to Become Africa’s First AI-Powered Agricultural Hub with $100M Japanese Investment

09/01/2025
Munify Egypt

Munify Secures $3M Seed Funding to Revolutionize Cross-Border Banking for Egyptians Abroad

09/01/2025
Uncovered Fund and Monex Ventures

Uncovered Fund and Monex Ventures have launched a $20M Fund

09/01/2025
Hypeo AI Morocco

Hypeo AI Secures Strategic Investment to Transform Influencer Marketing in Africa and the Middle East

09/01/2025
Next Post
G42 UAE Peng Xiao

G42, an AI company based in the UAE, has launched a $10 billion technology growth fund

She Loves Tech

 She Loves Tech global startup competition is now accepting applications from African startups

Koolboks

Koolboks has completed a seed round of $2.5 million

No Result
View All Result

The Big 5

ITIDA Egypt

Egypt’s Start IT Programme Welcomes Eight Innovative Startups in 47th Cohort

by Tech Gist Africa
09/01/2025
0

...

startup africa

Innovate47 Launches Food & Agri Accelerator to Empower African Startups

by Tech Gist Africa
09/01/2025
0

...

Dubai AI Accelerator

Dubai’s AI Accelerator has opened Registration for the “Future of AI in Government Services Accelerator” Program

by Tech Gist Africa
09/01/2025
0

...

Presight AI-Startup Accelerator

Presight AI-Startup Accelerator Ignites Global Innovation in Abu Dhabi

by Tech Gist Africa
09/01/2025
0

...

African tech ecosystem

Africa’s Growing Role in Global Tech Partnerships: Collaboration with Silicon Valley and Beyond

by Tech Gist Africa
08/25/2025
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.