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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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Kenyan E-Commerce Startup Chpter Raises $1.2 Million to Expand into Egypt and Nigeria

by Iyanu Ale
October 9, 2024
in Tech, World News
Reading Time: 2 mins read
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Kenyan E-Commerce Startup Chpter Raises $1.2 Million to Expand into Egypt and Nigeria
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Chpter, a rising Kenyan e-commerce platform co-founded by the minds behind Marketforce, has secured $1.2 million in a pre-seed funding round to enhance its technology and expand its reach into Egypt and Nigeria. The startup, founded in 2022 by Tesh Mbaabu, Mesongo Sibuti, Kuria Kevin, and Mark Kiarie, offers businesses tools to turn social media channels like WhatsApp and Instagram into sales platforms. With features for chat, order processing, and payments, Chpter enables companies to convert social media traffic directly into sales.

Currently operating in Kenya and South Africa, Chpter’s client roster includes well-known names like insurer Britam, Kicks Kenya, and Phoneplace. The company operates on a subscription model and charges a transaction fee for payments made via its platform.

Co-founder and CEO Tesh Mbaabu noted that the funds would be used to further integrate popular e-commerce and customer management systems such as Shopify and Woocommerce with social media APIs. The aim is to create an end-to-end solution for businesses in Africa looking to optimize their social media presence for sales.

The funding round was led by Pani, an Africa-focused investment firm co-founded by Ken Njoroge, former CEO of Cellulant. Other notable investors include Techstars, Norrsken, Renew Capital, Plesion Capital, and several prominent angel investors, including Benjamin Fernandes, CEO of Nala, and Workpay’s co-founders Paul Kimani and Jackson Kibigo.

Although Chpter operates independently from Marketforce, the two companies share connections, with Marketforce holding a stake in Chpter. Some investors who backed Marketforce have also invested in Chpter, indicating strong confidence in the new venture.

Chpter’s entry into accelerators like Norrsken and Safaricom Spark has further solidified its position in the conversational commerce space. With ongoing support and mentorship from the Safaricom Spark Accelerator, Chpter is well-positioned for rapid growth as it continues to expand across Africa.

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