Raise, a Kenyan end-to-end fundraising platform, has secured US$25,000 in funding from Microtraction, a venture capital company, to help it grow its platform and scale.
Marvin Coleby and Eugene Mutai founded Raise two years ago, and its alpha was released in 2019 just before going public in June 2020.
Raise is a simple fundraising and equity management platform for African entrepreneurs.
With the goal of enabling them to achieve a faster product-market match by providing them with low-cost online tools to raise capital and allocate equity to recruit talent.
Startups can share private deal spaces, handle electronic cap tables, and automate funding contracts like SAFEs.
Raise has scaled over 200 businesses, transacted over $150 million in equity on the platform, and produced over $90 million in valuations.
Microtraction said it was “laser-focused” on developing Africa’s number one platform for equity and fundraising.
Also, it had partnered with Africa’s largest corporate law firms to continue onboarding users and scale across the continent.
Raise’s goal is to “simplify wealth and democratize access to assets for Africans around the globe,” according to Coleby, the company’s CEO. “People have the power to build financial freedom for their communities, teams, and families.”
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