Kippa

History

2021: Attracting $3.2 million investment

Nigerian business accounting service Kippa in November 2021 attracted $3.2 million in investments. The startup plans to expand its application for managing small business finances.

The startup financing round was led by Target Global. Other participating venture capital investors were Entrée Capital, Alter Global and Rally Cap Ventures.

Kippa App

Kippa will use the funds to further scale its product, which already has more than 130 thousand active users from all over Nigeria. In the second half of 2021, sellers using this product registered more than $300 million.

Our approach is simple. We chose to use digital technologies, rather than strive to digitize analog processes, as previous players did. The long-term perspective for Kippa is clear - we are creating a comprehensive financial management solution for small businesses, operating at all critical levels of the SME digitization space (SME). Kippa is the first B2B SaaS tool that most of our users have ever used, and we are excited to create it for this important segment, said Kennedy Ekezi, CEO of Kippa.

Launched in June 2021 by the Kennedy Ekezi brothers and the Duke of Ekezi along with Jefta Uche, Kippa works as a simple application in which small business owners can track their daily revenue and expense transactions, create bills and receipts, manage inventory, and generally track how their business changes over time.

According to a company representative, one of the most important features of the application is that it helps sellers track debtors and send them automatic reminders. The company claims that sellers who use Kippa "collect debts 3 times faster."

Lina Chong, investment director at Target Global, said it is clear that the Kippa product is in great demand in the market.^[1][2]

Notes