ProXalys, a Senegalese startup that specialises in digital transformation for business-to-business trade, received US$500,000 in funding to support its growth.
Tunisia-based seed fund 216 Capital led the investment round. Through its FUZE programme, the funding also includes Haskè Ventures and Digital Africa.
In 2022, the company secured a pre-seed funding round of US$150,00.
ProXalys, founded in 2021 by Thierno Sakho, plans to digitise the whole value chain, reimagine supply chain procedures, and modernise and empower Senegal’s informal traders.
Principal investment manager at 216 Capital, Hassen Arfaoui, underlined ProBoutiK’s noteworthy role in advancing digitalization and financial inclusion in Africa’s unorganised retail industry.
“The collaboration reflects a shared belief in the necessity of financial inclusion and digital transformation to drive sustainable economic development in the region,” Arfaoui said.
ProXalys plans to use the funds to bolster its data and artificial intelligence teams in Senegal and Tunisia, as well as accelerate the launch of its new product, ProBoutik.
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Afrikamart, a Senegalese agritech startup, has raised $850k in seed funding
Kwely, a Senegalese B2B marketplace, has raised $1 million in a seed round
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