Bamba, mobile-first business software for African micro-merchants, has raised $3.2 million in venture investment to extend its app and expand its workforce.
Bamba is a smartphone application that allows small companies to quickly monitor their clients and stock levels, be paid, payout, and take out cash loans against their future cash flow. It was founded in 2022 by serial entrepreneur and investor Bastian Gotter.
468 Capital led the $3.2 million seed round, which also included Presight Ventures, Jigsaw VC, and high-profile angels Mato Peric, Leonard Stiegeler, Laurin Hainy, and Thomas Stafford.
The firm is now in stealth mode and will utilize the additional funding to grow its user base across 12 Sub-Saharan African nations with significant mobile money adoption.
“We truly believe entrepreneurship is essential to prosperity, so we make running a small business easier by building mobile-first small business software for Africa. This investment allows us to scale the platform, the team and gives us access to insights from our high calibre of investment partners,” said Gotter.
468 Capital partner Ludwig Ensthaler expressed his delight in investing and supporting Bamba’s team and goal.
“We feel that the investment opportunities in “enterprise” software focused on small businesses in Africa are significant and remain largely untapped. We believe that Bamba is well placed with a great product and a solid founder to build a category-defining company,” he said.
