TopUp Mama, a Kenyan firm that provides supplies, banking services, and business management tools to African eateries, has received a US$1.7 million early investment round to accelerate its growth.
The investment, which is led by Ventures Platform and JAM Fund, also includes Next Billion Ventures, Future Africa, Jedar Capital, HoaQ Fund, First Check Africa, and DFS Lab.
TopUp Mama will use the capital to accelerate its growth, expand its technology, and scale its restaurant sales management capabilities.
Why The Investors Invested
The investors were drawn in by the traction it has generated over time. Since raising its pre-seed round 10 months ago, the company has increased by over 1,000%, signed up over 3,000 restaurants, and entered Nigeria.
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“We feel we have a unique chance to establish Africa’s most prominent restaurant partner and one of Africa’s largest corporations.”
TopUp Mama’s influence across restaurants, according to Ventures Platform creator Kola Aina, “serves as the heartbeat of neighbourhoods in Africa.”
“Topup Mama provides restaurant owners with access to low-cost groceries and advanced data analytics in order to serve the wonderful meals that sustain us and bring us together. They also assist restaurants in increasing their consumer base while improving efficiency.”
A Look At What TopUp Mama Does
TopUp Mama, founded in 2021 by Njavwa Mutambo, Emilie Blauwhoff, and Andrew Kibe, is a one-stop shop for restaurants in Kenya and Nigeria, providing them with all the essential supplies, short-term finance, and tools to manage their companies.
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“I grew up in the restaurant business in Zambia, so I understand firsthand the potential that small businesses have in changing people’s lives. This is why we are committed to expanding the contribution of restaurants to Africa’s GDP,” Njavwa Mutambo, CEO of TopUp Mama, stated.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh