Kippa, the financial management and payment platform for small businesses in Nigeria secured the sum of $8.4 million in funding during the last seed round. The start-up that provides digital financial management solutions has earned the support of foreign investors, they have the responsibility of developing solutions that will help SMEs grow their businesses.
Over the last decade a lot of small businesses have come online but their operations such as financial management, keeping an inventory, and other operations are still offline. These SMEs are faced with either managing their processes manually or investing in expensive solutions that might not solve their problems.
“We expect the number of digitally active small businesses to grow exponentially over the next three to five years. As more small businesses come online, Kippa will own the money button on the devices of these merchants, says Kippa CEO Kennedy Ekezie-Joseph.
Kippa was founded in 2021, and its first year raised $3.2 million in seed funding in November 2021. The platform provided small businesses with a simple to use mobile bookkeeping app to help them digitize their records and recover customer debts. In 2022, their solutions have increased to opening bank accounts, receiving and sending payments, building online web stores, and management of the entire business operations from one platform.