Kippa Payments, a digital payments solution that allows users to send and receive payments from customers as well as perform extended payments transactions automatically, is the second product from Nigerian fintech startup Kippa, which provides digital business and financial management solutions for SMEs in Africa.
Kippa, founded in June 2021 by Kennedy and Duke Ekezie, as well as Jephtah Chidozie-Uche, is an app that assists retailers in increasing cash flow by recovering debts.
Kippa’s initial product is a mobile bookkeeping solution that is utilised by over 350,000 SMEs in Nigeria. Small company owners may use the app to keep track of debtors and issue automatic debt reminders.
The firm announced the US $3.2 million pre-seed fundraising round headed by Target Global in November, and it has now launched Kippa Payments, its second product. Kippa Payments, which can be accessed using the existing Kippa app, allows users to submit bill transfers and payments, as well as invoices with integrated payment links. Users’ business data, which was previously self-reported by merchants on the app, may now be automatically detected, recorded, synchronised, and therefore validated by the new product.
“We are very proud to be launching our new digital payments solution today, which comes at a key time for Nigeria’s fintech sector, as demand from SMEs for digital payments solutions continues to rise,” Chidozie-Uche said. “Kippa Payments will also enable us to have a deeper understanding of our customers through transactional data, so that we can offer more tailored and bespoke products over time, unlocking deeper value within the Kippa ecosystem alongside our existing solutions.”