A US $1.5 million seed funding round has been completed for the South African startup Maholla, a popular consumer rewards app, to aid in its expansion.
Regardless of where they shop, users can earn rewards with the popular consumer app Maholla by scanning any receipt from any store. Instant airtime, 1Vouchers, in-app games, and other incentives are available as rewards.
The company raised a US $580,000 pre-seed round in July 2022 and has since raised a US $1.5 million seed round, bringing its total funding to date to over US $2 million. Castleton Capital, Praesidium Capital Management, the Buffet Group, and Galloprovincialis are some of the investors.
With the money it has received, Maholla plans to expand its rewards platform to millions of users and widen its technical moat.
“Our company is on route to tracking as many purchases as a top five retailer in South Africa,” said Jed da Silva, co-founder and head of product at Maholla.
Maggi, Milo, Ricoffy, Nola, Rama, Hungry Lion, Fusion, Switch Energy, and Mr. Sheen are just a few of the household names already utilizing Maholla’s dataset and targeting capabilities.
