VENCO, a Nigerian facility management platform, has raised USD 670 K in pre-seed funding to alleviate the problems associated with living in estates or residential and commercial communities in Africa. Zrosk Investment Management led the round, with Voltron Capital, Decimal Point Ventures, and Fast Forward Fund also participating, as well as other angel investors such as Tayo Oviosu (CEO of Paga) and Odun Eweniyi (COO of PiggyVest).
The additional money will help VENCO build out its credit delivery infrastructure for rent and household expenses, as well as expand into other cities and countries throughout the continent, beginning with Nigeria and Kenya.
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A Look At What The Startup Does
VENCO’s platform, founded in 2022 by Chude Kenneth Osiegbu, Reagan Mbitiru, and Uzochukwu Alor, works for malls, shopping complexes, and even tiny towns. VENCO delivers payment reminders to residents, assists them in making payments directly on the app, and then issues bills. Residents can use the app to file complaints and track the status of their complaints. Managers are presented with complaints in the order of importance.
VENCO Facility VENCO Facility
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