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.
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