Nigerian startup Zuvy, an invoice financing and software company, has secured US$4.5 million in debt and equity funding to scale across the country. Just out of stealth mode, Zuvy is an invoice discounting company that provides software for vendors and their buyers to settle invoices and manage payment schedules. With Zuvy, buyers have access to free invoice management software that streamlines their procurement and vendor management. Rather than spending several hours dealing with manual pen-and-paper processing, buyers utilize the Zuvy dashboard to receive invoices electronically from their vendors. The startup’s US$4.5 million funding round was led by TLG Capital, with participation from Next Chymia Consulting HK, Dunbar Capital, Vicus Ventures and prominent angel investors such as David Mussafer, chairman of global private equity firm Advent International.

Source: The North Africa Journal July 04, 2023 12:03 UTC