More startups in Africa are simply moving ahead of others, and faster. Kenyan logistics startup MPost is the latest to join this league.
The amount of fund raised by the startup was not disclosed, but the funding came from South Africa’s Cape Town-based VC firm HAVAÍC.
“We are excited that Havaic is investing in MPOST. As a seasoned investment and advisory firm, HAVAÍC will undoubtedly bolster MPost’s growth and impact in the region. This is a vote of confidence in our product and indeed our vision as a company,” said chief executive officer of MPostAbdulaziz Omar was quoted as saying.
The startup which has developed a patented technology allows users to transform their phone into a unique mobile postal address and mobile postal box.
“This partnership with Startupbootcamp, HAVAÍC and MPost will enable us to enhance the efficiency and user experience of the product, and improve the long term benefits to our clients and stakeholders,” said chief technology officer (CTO) Twahir Mohamed.
MPost At A Glance
The startup was founded in 2015 by Abdulaziz Omar and Twahir Mohamed. The startup allows mobile phone numbers of its users to be converted into official virtual addresses which will allow the users to be notified whenever they get mail through their postal addresses.
The startup has already gained 40,000 users, mostly as a result of its partnership with the Postal Corporation of Kenya. It has been primarily self-funded but obtained some angel investment last year. The latest round of funding comes from established investment and advisory firm HAVAÍC, which also plans to participate in MPost’s forthcoming Series A round.
HAVAÍC’s Rob Heath, the partner responsible for pan-African and international business at the firm said HAVAIC invested in the startup because:
“After spending time with Aziz and Twahir in Nairobi and seeing the solution in action, it’s clear that this is not just a technology and commercial product. MPost makes a real impact on people’s daily lives and as an investor, it’s rewarding when we can tie these two elements together. That being said, this is a great example of African problems producing global solutions — one of the cornerstones of our investment thesis at HAVAÍC.”
MPost is further moving to Uganda ahead of further launches in Rwanda, Botswana, Tanzania, and South Africa.
Last year, the startup participated in the Startupbootcamp AfriTech accelerator program in Cape Town, where it was introduced to HAVAÍC. MPost will also welcome Startupbootcamp AfriTech co-founder Zachariah George onto the board to represent both his business and HAVAÍC.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.