Kenya tech company gets Sh260m funding

Africa’s Talking CEO Samuel Gikandi. PHOTO | Francis Nderitu 

By ANNIE NJANJA

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Summary

• The new funding brings the total investment received by Africa’s Talking to Sh860 million ($8.6 million), in addition to Sh600 million ($6 million) by International Finance Corporation (IFC).
• Founded in 2010, Africa’s Talking provides platform for businesses and developers who want to integrate mobile communication and payment services to their applications.
• Samuel Gikandi, CEO and co-founder of Africa’s Talking, said the new capital injection will help the firm to scale up its operations on the continent.

Technology investment fund Orange Digital Ventures has invested Sh260 million ($2.6 million) in Kenya’s mobile tech company Africa’s Talking alongside California-based venture capital firm Social Capital.

Founded in 2010, Africa’s Talking provides platform for businesses and developers who want to integrate mobile communication and payment services to their applications.

The new funding brings the total investment received by Africa’s Talking to Sh860 million ($8.6 million), in addition to Sh600 million ($6 million) by International Finance Corporation (IFC).

Orange Digital Ventures, which is backed by France’s telecoms operator Orange, is an early-stage technological investment fund for international projects and has a bias for products that create innovative digital services for the African continent.

The fund was launched last June.

“We are delighted that the first beneficiary of our African initiative is a recognised player providing access to operators’ APIs. We believe that it is essential to support every initiative that aims to make these APIs more accessible to entrepreneurs in Africa,” chairman of Orange Digital Ventures, Marc Rennard, said in a statement.

Samuel Gikandi, CEO and co-founder of Africa’s Talking, said the new capital injection will help the firm to scale up its operations on the continent.

“We intend to leverage this relationship to accelerate our expansion in countries where Orange is present and launch new products that deepen the engagement of Orange with software developers,” Mr Gikandi said.

A business that wants to send bulk SMS to customers, provide services via USSD or set up a mobile payment system for clients can use Africa’s Talking platform.