Kenyan e-commerce startup Chpter, raises $1.2 million to expand into Nigeria, Egypt
By Oluwaseyi Lawal
Chpter, a Kenyan e-commerce startup founded by the team behind YC-backed Marketforce, has secured $1.2 million in a pre-seed funding round.
The company plans to use the funds to enhance its technology and expand into the Egyptian and Nigerian markets.
Established in 2022 by Tesh Mbaabu, Mesongo Sibuti, Kuria Kevin, and Mark Kiarie, Chpter enables businesses to transform social media from a marketing tool into a sales platform through chat, order, and payment features. The company generates revenue through a monthly subscription and charges a transaction fee for payments processed via its platform. Chpter’s clients include insurer Britam, shoe retailer Kicks Kenya, and e-commerce site Phoneplace. Currently, the startup operates in Kenya and South Africa.
Chpter’s co-founder and CEO, Tesh Mbaabu said,” We are investing in our tech stack to offer an end-to-end product, connecting the APIs from social media platforms such as WhatsApp and Instagram with popular e-commerce and customer relationship management systems like Shopify and Woocommerce.”
Pani, an investment firm focused on Africa and co-founded by former Cellulant CEO Ken Njoroge, led the funding round. Other investors included Plesion Capital, Techstars, Norrsken, Renew Capital, ViKtoria Ventures, and angel investors such as Nala founder and CEO Benjamin Fernandes and Workpay co-founders Paul Kimani and Jackson Kibigo.
The successful fundraising reflects investor confidence in the young startup. Chpter was established while its co-founders were still managing Marketforce, a YC-backed Kenyan e-commerce platform that was once valued at over $100 million.
Some of Chpter’s investors had previously backed Marketforce, though Mbaabu did not provide additional details. Chpter operates independently from Marketforce.
RECOMMENDED ARTICLES
Comment
No comments found.