Chpter is an e-commerce startup based in Kenya that provides e-commerce solutions across various platforms. The startup secured 1.2 million USD in its ongoing pre-seed funding round led by the investment firm Pani. The funding round saw the participation of several investors including Techstars, Renew Capital, Plesion Capital, Norrsken, ViKtoria Ventures, and angel investors including Nala Founder and others.
This company plans to use these fresh proceeds to scale its operations, expand its market presence, improve its technology, enhance its platform for a better user experience, and expand its services. The firm will mainly use this investment to advance its technological infrastructure and develop its e-commerce platform. The startup offers a platform to help businesses convert their social media from marketing channels to sales platforms with orders, payment tools, and chat. The platform considers key performance indicators such as sales, portfolio, marketing, and pricing to offer efficient solutions. The company earns its income through transaction fees for payments processed on its platforms and monthly subscription-based services. The company provides its services in Kenya and South Africa. The startup has clients including Shoe store Kicks Kenya, Insurer Britam, and e-commerce platform Phone Place.
The company offers its services to businesses and assists them in promoting their products and maximizing sales on sales platforms. The platform also provides customized e-commerce solutions to make the brand stand out in the e-commerce marketplace. The company has on-platform and off-platform marketing with account management to maintain online management. The CEO of Chpter, Tesh Mbaabu told TechCabal in an interview that they are investing in tech stack to provide end-to-end products to connect APIs from social media such as Instagram with popular e-commerce platforms like Woocommerce and Shopify.
The development came just after the e-commerce sector gained interest from investors. This investment shows the investor’s trust in Chpter’s market potential and business model. This funding amount will enable the startup to strengthen its position in the e-commerce market. The startup wants to revolutionize the e-commerce sector and introduce more efficient ways to promote businesses. Chpter operates independently and is not under the MarketForce Umberalla. Earlier this year, the company received an investment between $150,000 to $500,000 from Safaricom Spark. Chpter competes with other e-commerce platforms in the same segment.
Conclusion:
E-commerce company Chpter secured 1.2 million USD from an investment firm Panui in pre-seed funding. The funding round also saw the participation of other investors including Renew Capital, Norrsken, Revew Capital, angel investor Nala Founder, and more. The company intends to use these fresh proceeds to scale its marketplace, develop its brand presence, enhance its technology, and expand its service. The platform helps companies convert social media from marketing channels to sales platforms with payment tools and chat. The company earns its revenue from transaction fees on its platforms and monthly subscription services. The startup wants to transform the e-commerce advertising ecosystem and introduce more efficient ways to help brands in product sales. The development came just when the e-commerce market saw increased investor interest.
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