The funding was led by Pan-African, early-stage investor Ventures Platform with participation from New York-based fund FinTech Collective and Launch Africa Ventures. Other backers in the round include Nama Ventures, Aidi Ventures, Ralicap Ventures, Now Venture Partners, Vastly Valuable Ventures, NOA Capital, Assembly Investors, Probability Ventures, Adamantium Fund, MyAsia VC and Uncovered Fund. He added that Termii’s annual recurring revenue consequently increased 30x, and message transactions on its platform grew from a million to 400 million within this timeframe. The YC-backed startup plans to expand its product offering beyond regular messaging services to include calls and OTP (one-time password) generation to increase transaction numbers. On the eSIM feature, Emmanuel explains that African businesses can offer their employees and users the ability to own eSIM cards or branded sim cards with unlimited voice calls and texts.

Source: The North Africa Journal June 15, 2023 01:23 UTC