Nigerian Fintech Startup Bujeti Secures $2 Million in A Seed Round to Accelerate Its Growth
Pan-African Fintech startup Bujeti has secured $2 million in a seed round, to accelerate its growth.
The funding round was led by Y Combinator, with participation from other investors which include Entrée Capital, Voltron Capital, Unpopular VC, Kima Ventures, Dropbox Co-founder Arsag Ferdowsi, Tristan Walker – Heirloom VC, Alan Rutledge, and Abdul Tomiwa Hassan, CEO of Mono.
The company via a statement, disclosed that the latest seed raised will be used to accelerate its growth, expand its market presence, and enhance its offerings. The roadmap for upcoming features includes introducing credit lines for SMBs and developing new products tailored for enterprises.
Bujeti’s founder and CEO Cossi Achille Arouko emphasized the company’s commitment to collaboration and becoming the go-to solution for the entire business ecosystem, similar to platforms like Teams or Slack.
He said “Our differentiation lies in providing unparalleled control and granularity in financial operations, allowing businesses to digitize their complex payment and finance processes effortlessly. Bujeti stands as a digital ally, empowering workplaces and fostering trust among teams.”
“In the last eight weeks, we’ve onboarded close to a thousand businesses of all sizes, including SMBs and well-known startups, reflecting the trust and recognition of our platform’s efficacy. Our imminent goal is to reach N200 million in transaction processing, illustrating the growing demand for a comprehensive, integrated solution like Bujeti”, he added.
Founded in December 2021, by Achille Cossi Arouko initially as a personal finance startup for Blacks in Diaspora, Bujeti diversified into B2B finance management offerings for businesses across Africa.
The startup enables companies to manage all their expenses with a fully integrated, simple, and intuitive suite of expense management tools. It also offers the possibility to generate physical and virtual corporate cards on the go, pay by bank transfer directly from a mobile app, automate and digitize reimbursement requests, set spending limits, and get real-time insights into how funds are being used.
At the heart of Bujeti is the desire to bring transparency to financial transactions, promote accountability, and enable control.
