In order to expedite its expansion into Kenya, Ivory Coast, and Zambia, South African fintech startup Scale—a platform that facilitates payments and issuer orchestration—has raised a US$700,000 pre-seed funding round.
Scale, founded by Miranda Perumal last year, is an expert in card-issuing enablement that helps fintechs achieve their go-to-market and speed-to-revenue strategies. They use their cutting-edge tech stack and expertise to speed up product launches and onboarding.
Leading early-stage investors 54 Collective (previously Founders Factory Africa) and First Circle Capital spearheaded the startup’s US $700,000 pre-seed fundraising. Sunny Side Venture Partners and well-known industry experts participated as well.
With the additional funds, Scale—which is ready to launch—will enter the markets of Kenya, Ivory Coast, and Zambia more quickly. Scale had earlier established partnerships in the banking, network, and payment technology spaces, presenting itself as an orchestration platform for modern card issuing and an enabler of Infrastructure-as-a-Service (IaaS).
According to Perumal, the investment demonstrates Scale’s value proposition and the company’s dedication to helping African fintechs reach new heights.
“It’s not just what we do; it’s ingrained in the very fibre of our values. With the backing of our esteemed investors and partners, we are well-positioned to expedite our ecosystem engagement, build trust with African businesses and continue to strongly focus on solving major pain points when enabling card rails by delivering unrivalled, world class service,” she said.
