Makeba, a fintech startup in Africa that combines point-of-sale payments and money transfer into mobile applications exceeded its minimum-raise goal, bringing in $200,000 during its current round of crowdfunding via the WeFunder platform. The pre-money valuation of the company is $30 million, and interested individuals can invest in the company for as little as $240 through the crowdfunding platform, according to a release.
The company has raised more than $2.5 million in debt and equity, giving it the go-ahead to deploy in its first test market of Cape Verde, Africa.
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Makeba has also entered into a partnership with the Government of Cape Verde to provide pension funds via contactless Makeba wallet transfers and to provide a digital payment option for students at the Cape Verdean Public University. Capital raised in this round will go to the expansion and rollout of services in the U.S.
“After a successful series A round with African investors, we found the U.S. VC playing field to be very different,” Adriana Henriquez, COO at Makeba said in the release. “We’re excited to use a platform that democratizes fundraising because this aligns so well with our values as a company. We know that talent is evenly distributed, but economic opportunity is not.”
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer