If you are planning to start your own company Nashvillebased, you have to keep in mind that the first thing you need to do is get a seed funding. There are some things to keep in mind when it comes to a Seed Funding round, such as Founders, Regulatory cover, Bank accounts, and so on.
Seed funding round
Among the many startups taking part in the techcrunch seed funding round this year is pawaPay. This is an African-based payments firm that is focused on mobile money infrastructure in Africa. They are looking to expand their operations to new markets on the continent. Their capital will help them recruit and train more talent and help them scale their operations.
The firm has secured over EUR7.6 million in seed funding so far, including from UK investment fund 88mph, China-based MSA Capital and Kepple Ventures. Andreessen Horowitz is also a major investor. Other investors include Intercom founders, and the CEOs of Plaid and UiPath.
PawaPay is looking to provide seamless and transparent payments for consumers across the Africa. Its platform focuses on the mobile money infrastructure offered by African telecom carriers. It has been spun off from online sports betting company betPawa. Since its launch, pawaPay has been able to reach over 300 million clients across 10 different countries.
Regulatory cover
A company called Pawapay claims to be the first to provide regulatory cover for mobile money in Africa. The company is a subsidiary of a company that offers a service that lets global companies offer financial services to African consumers. In particular, the company offers an API to its customers that allows them to gain access to all of the telco-led mobile money systems in the continent.
The company boasts of a simple API that enables its merchants to reach more than 300 million users in ten markets in the region. It also manages to handle more than 10 million transactions per week, a feat that the company claims is the biggest on the continent. As a bonus, it also provides regulatory cover for mobile money, a thorny issue for many companies operating in the continent.
