MPost, a Kenya based mobile app that converts user’s phones to mobile post offices, has raised $100,000 from Leapfrog Venture’s Founder and CEO, Takuma Terakubo to scale eCommerce in Africa. The funding will also be used to help mobile phone users convert their phones into virtual post offices where they can receive mail on the go.
This funding came a few months after MPost announced the raise of an undisclosed amount from the South African venture capital firm, HAVAIC. The startup also revealed that it was targeting $2million investment in its Series A funding round.
MPost is an eCommerce solution that boosts online businesses in Kenya and across Africa. The platform has brought the once inactive postal service back to live.
Leapfrog CEO, Terakubo Takuma said his major purpose is to improve Africa-focused investment and accelerate the country’s economy. This he said, spurred his $100000 investment in MPost last year.
See also: Kenya-based Little Partners Jambojet to Scale Customer Base
In a report by Ventureburn, Terakubo is quoted to say his company (Leapfrog) will accelerate the deployment of MPost services in Kenya and Uganda.
Terakubo will also help MPost link the postal service with other businesses, especially those in e-commerce and on-demand shopping platform. He further expresses his future interest in investing in MPost’s next funding series while making mention of the $100,000 to $1million fund he is setting up.
The investment will also help MPost reach more users to convert their phone numbers into a postal address for receiving their Postal Service deliveries.
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