Termii, a Nigeria-based company that specializes in providing a communications platform as a service for African businesses, has announced that it has received some seed funding.
According to TechCrunch, the company — owned by Gbolade Emmanuel and Ayomide Awe — raised $1.4 million in their inaugural seed funding round. The funding was co-led by African early-stage VC firm Future Africa and Japanese but Africa-focused VC Kepple Africa Ventures.
And that’s not all: the outlet also reports that other investors include Acuity Ventures, Aidi Ventures, Assembly Capital, Kairos Angels, Nama Ventures, RallyCap Ventures, and Remapped Ventures.
Termii also received angel investments from Ham Serunjogi, co-founder and CEO of Chipper Cash; Josh Jones, former co-founder and CTO of Dreamhost; and Tayo Oviosu, co-founder and CEO of Paga.
The initial investment seems to be well-justified by the fact that the platform’s API-based communications infrastructure is extensively used across the continent. By their report, more than 500 fintech companies — and more than 1,000 other businesses and developers — use Termii’s proprietary API.
This investment news seems to be more evidence of an emerging trend of investing in Africa. Recently, we told you that the Future Africa Fund has invested more than $2 million across 19 different African companies, and even future investors are talking about diversifying their efforts to enter into the African business world.