Termii, a platform-as-a-service startup in Nigeria for communications, has secured $3.65 million in new funding.
The funding round was led by pan-African early-stage investor Ventures Platform with support from New York-based fund FinTech Collective and Launch Africa Ventures. Other investors in the round include NOA Capital, Assembly Investors, Probability Ventures, Aidi Ventures, Ralicap Ventures, Now Venture Partners, Vastly Valuable Ventures, MyAsia VC, Uncovered Fund, and Nama Ventures. The Afropreneur Angel Group, Aubrey Hruby, a partner at Tofino Capital, and Eamon Jubbawy of Onifido were among the angel investors that took part.
Termii was founded by Emmanuel, Ayomide Awe, and Atinuke Idowu in 2017.
The API-based communication infrastructure provided by the startup enables businesses, and in particular fintechs, to interact with their consumers in a number of various ways, such as via SMS, voice messaging, mobile tokens, alerts, and a two-way support system.
Gbolade stated that one of Termii’s propositions that won investors over was Termii Go, the company’s latest product which he described as a “game-changing unified communications app”.
Termii Go, which is expected to go public this month, is an improvement over the company’s customary covert infrastructure operations.
The app brings together Termii’s vast clientele base across Africa in one central location, facilitating instantaneous interactions between companies and their customers.
This provides companies with a CRM tool and a mobile communications infrastructure.
In 2021, after a successful funding round, Termii established a presence in Algeria.
With the funding that it raised, the company plans to continue expanding across Africa, especially in the francophone region and with a particular emphasis on Ivory Coast.
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