$1.7 M seed funding raised by Kenya’s TopUp Mama to support African eateries
TopUp Mama, a Kenyan startup that connects African eateries with supplies, banking services, and business management tools, has raised US $1.7 million in venture capital to help it expand.
TopUp Mama is a one-stop shop for restaurants in Kenya and Nigeria that offers them all the essential supplies, short-term finance, and tools to manage their companies. It was founded in 2021 by Njavwa Mutambo, Emilie Blauwhoff, and Andrew Kibe.
The firm has grown by over 1,000%, signed up over 3,000 eateries, and expanded into Nigeria since raising its pre-seed round ten months ago. It has recently completed a seed round of $1.7 million in the United States. Next Billion Ventures, Future Africa, Jedar Capital, HoaQ Fund, First Check Africa, and DFS Lab are among the investors in the round, which is led by Ventures Platform and JAM Fund.
TopUp Mama plans to utilize the capital to expand its business, improve its technology, and scale its restaurant sales management capabilities.
“I grew up in the restaurant business in Zambia, and I know first-hand the power of small businesses have in transforming lives. This is why we’re passionate about increasing restaurant contribution to Africa’s GDP,” said Njavwa Mutambo, TopUp Mama’s CEO.
“We believe we have a unique opportunity to build Africa’s most prominent restaurant partner and build one of the largest companies Africa has ever seen.”
TopUp Mama’s influence across eateries, according to Ventures Platform creator Kola Aina, “serves as the heartbeat of neighbourhoods in Africa.”
“Topup Mama empowers restaurant owners with access to affordable foodstuffs and powerful data analytics to deliver the delicious meals that keep us sustained and bring us together. Importantly, they also help restaurants grow their customer base while improving efficiency,” he said.
