Termii, a Nigerian CPaaS Startup receives Investment from Future Africa

Nigerian marketing platform, Termii has received an undisclosed amount of funding from Future Africa– an early-stage venture capital firm.

Launched in 2014 by Emmanuel Gbolade and Ayomide Awe, Termii is a multiple-channel marketing platform that facilitates real-time and seamless connections between businesses and their customers.

Termii to the rescue

Although the African continent is heading towards digital maturity, however, there are still challenges bedeviling the digital economy.

Due to weak broadband penetration and low internet speeds, digital businesses struggle to communicate with customers which is a fundamental aspect of running a business.

Termii addresses these problems by providing infrastructure to enable African businesses to increase their customer retention and drive more interactive engagement between customers and brands.

With its user-friendly and multichannel options, the platform offers its clients a simple and yet effective tool to build and maintain relationships with their customers, increase their customer retention and drive more interactive engagement between customers and brands, in a cost-effective manner.

Currently, the Communications Platform as a Service (CPaaS) startup is helping businesses in several African countries such as Nigeria, Benin Republic, Ghana, and Morocco.

Prior to this most recent addition, the startup had secured funding from other investors. In early 2020, Termii raised $150,000 seed from Y Combinator in early 2020.

In November 2019, it received an undisclosed amount of seed funding from Microtraction and a seed investment of $30,000 from Future Hub- a Chinese VC firm.

Future Africa

Co-founded in 2019 by Iyin Aboyeji, Olabinjo Adeniran, Adenike Sheriff, and Chuba Ezekwesili, the Lagos-based private equity firm is on a mission to strengthen entrepreneurship and innovation in Africa.

Through its fund, that was launched in 2020, Future Africa aims to inject at most $50,000 capital to 20 outstandingly innovative startups every year. Among its portfolio companies include Evolve Credit, Indicina, Releaf, and Tambua Health.

Featured Image: Ayomide Awe and Gbolade Emmanuel, Founders, Termii

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