--- title: Nigerian YC-Backed CPaaS startup Termii secures Seed capital led by Kepple Africa Ventures and Future Africa description: Termii, an African communications-as-a-service startup has raised $1.4 Million in seed funds. image: https://blog.termii.com/hubfs/fund-milestones-1.jpg --- [![Termii](https://blog.termii.com/hs-fs/hubfs/Logo%20Termii-05%201500px%201-1.png?width=1500&height=1501&name=Logo%20Termii-05%201500px%201-1.png "Termii")](https://blog.termii.com) Open main menu Close main menu - [Learn More About Us](https://termii.com/about) [Customer engagement](https://blog.termii.com/tag/customer-engagement) [Press release](https://blog.termii.com/tag/press-release) # Nigerian YC-Backed CPaaS startup Termii secures Seed capital led by Kepple Africa Ventures and Future Africa ![Cecilia](https://blog.termii.com/hs-fs/hubfs/1580851032195.jpg?width=45&name=1580851032195.jpg) [Cecilia](https://blog.termii.com/author/cecilia) [Share this blog post on Twitter](https://twitter.com/intent/tweet?text=I+found+this+interesting+blog+post&url=https://blog.termii.com/nigerian-yc-backed-cpaas-startup-termii-secures-seed-capital-led-by-kepple-africa-ventures-and-future-africa) [Share this blog post on Facebook](http://www.facebook.com/share.php?u=https://blog.termii.com/nigerian-yc-backed-cpaas-startup-termii-secures-seed-capital-led-by-kepple-africa-ventures-and-future-africa) [Share this blog post on LinkedIn](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.termii.com/nigerian-yc-backed-cpaas-startup-termii-secures-seed-capital-led-by-kepple-africa-ventures-and-future-africa) ![](https://blog.termii.com/hubfs/fund-milestones-1.jpg) [Termii](https://termii.com/), an African communications-as-a-service startup has raised $1.4 Million in seed funds. 50% of the round was co-led by both [Kepple Africa Ventures ](https://kepple-africa-ventures.com/home_eng)and [Future Africa](https://www.future.africa/) while other participants include Aidi Ventures, Remapped Ventures, Nama Ventures, RallyCap Ventures, Assembly Investors, Acuity Ventures, and Kairos Angels. Notable Industry Angels also joined the round such as Eric Idiahi (Verod Capital), Tayo Oviousu ([Paga](https://www.mypaga.com/)), Josh Jones (Dream Host), Diran Otegbade, MyAsiaVC, and Ham Serunjogi (Chipper Cash) The seed financing came in a year after the startup graduated from the YCombinator Winter 2020 Batch. Cofounded by Gbolade Emmanuel and Awe Ayomide, the company has helped thousands of businesses across Africa use messaging channels to effectively engage, verify, and authenticate their customers’ transactions. # Company Growth Positioning itself as serving Africa’s fast-growing technology ecosystem with a focus on financial technology companies, Termii through its API-based communication infrastructure powers over 500 African FinTechs and more than a thousand other companies such as [Piggyvest](https://www.piggyvest.com/),[ Ulesson,](https://ulesson.com/) [Yassir](https://yassir.com/), [Voguepay](https://voguepay.com/), [Helium Health](https://heliumhealth.com/), and a host of other businesses across Africa. According to its Co-founder & CEO Gbolade Emmanuel, Termii grew its messaging transactions by 1000% and experienced a 400% increase in its ARR during the pandemic in 2020. The startup has continued to grow its revenue base by over 60% monthly, due to the surge in online financial transactions which to date makes up for 68% of the company’s total messaging transactions. # Business Model Playing in a $3.6 Billion B2C communications market which is estimated to grow 6% annually, Termii runs a B2B2C model and leverages a virtual wallet system that is tied to a bank account. This makes it easy for its customers to make payments to the platform using mobile money, bank transfer, and credit cards. The startup charges its customers’ wallets on a per-message basis, as well as on every successful customer verification made towards customers’ contacts. It runs a developer-first approach while also providing dashboard tools for sales and marketing teams within companies that decide to run non-API-based engagement campaigns. ![1_oU5RR3wyyaBBGBbPOtWmXQ](https://blog.termii.com/hs-fs/hubfs/1_oU5RR3wyyaBBGBbPOtWmXQ.jpeg?width=1050&name=1_oU5RR3wyyaBBGBbPOtWmXQ.jpeg) # Looking Forward Gbolade says that the company plans to expand physically in the coming months to North Africa with a physical presence in Algeria. According to him, in Q1 of 2021 Nigeria accounted for 76% of the company’s messaging transactions, while Algeria currently accounts for 15% which is growing steadily each month. Other countries like Egypt, Ghana, Morocco, Gambia, Sierra Leone, the US, Canada, and the UK take the other distribution of its traffic. With this new fundraising, the company plans to tap into the wealth of experience from some of its new investors who themselves have also taken local companies into expansion phases like Eric Idiahi of Verod Capital and Tayo Oviousu of PAGA who recently expanded to Ethiopia. It also plans to launch its offering into two-way messaging across Africa, both for SMS and WhatsApp for enhanced interaction between businesses and their customers. Termii Official Press Release ![Cecilia](https://blog.termii.com/hs-fs/hubfs/1580851032195.jpg?width=150&name=1580851032195.jpg) #### Cecilia Cecilia has been writing with Termii for two years. Her articles appear on e-zine sites including Medium.com. Her educational background in Literature-in-English and experience working with Termii has given her a broad base from which to approach many topics. She contributes articles about communication and customer engagement techniques regularly to Termii.medium.com. Her articles focus on getting it right with engaging customer communications while leveraging Termii's messaging tools. Learn more about how Cecilia's articles could grow your business by visiting termii.medium.com ### Leave a Comment ## Related Articles [![](https://blog.termii.com/hubfs/Why%20Termii%20Elevate%204.0%20Matters%20for%20Africa%E2%80%99s%20%20Tech%20Ecosystem%20%281%29-1.png)](https://blog.termii.com/why-termii-elevate-4.0-matters-for-africas-tech-ecosystem?hsLang=en) [Termii Elevate Conference](https://blog.termii.com/tag/termii-elevate-conference) [Communication](https://blog.termii.com/tag/communication) [Artificial Intelligence](https://blog.termii.com/tag/artificial-intelligence) ### [Why Termii Elevate 4.0 Matters for Africa’s Tech Ecosystem](https://blog.termii.com/why-termii-elevate-4.0-matters-for-africas-tech-ecosystem?hsLang=en) *"You can’t build a digital continent without trusted infrastructure to power how we connect, transact, and grow."* ![Cecille Abegunde](https://app.hubspot.com/settings/avatar/6539293495ddd6443ce11028fe008f5b) [Cecille Abegunde](https://blog.termii.com/author/cecille-abegunde) [Read More](https://blog.termii.com/why-termii-elevate-4.0-matters-for-africas-tech-ecosystem?hsLang=en) [![mage Credits: Termii. Ayomide Awe - CTO (Left), Idowu Atinuke - COO (Center) and Emmanuel Gbolade - CEO (Right)](https://blog.termii.com/hubfs/VEN_0743-Edit.jpg)](https://blog.termii.com/termii-raises-3.65m-funding-to-fuel-customer-engagement-innovation-in-africa?hsLang=en) [Press release](https://blog.termii.com/tag/press-release) [Africa](https://blog.termii.com/tag/africa) [Fundraise](https://blog.termii.com/tag/fundraise) [CPaaS](https://blog.termii.com/tag/cpaas) [Termii](https://blog.termii.com/tag/termii) ### [Termii Raises $3.65M Funding to Fuel Customer Engagement Innovation in Africa](https://blog.termii.com/termii-raises-3.65m-funding-to-fuel-customer-engagement-innovation-in-africa?hsLang=en) [Termii](https://termii.com/), the leading customer engagement platform in Africa, has successfully raised $3.65 million in its latest funding round. The round was led by Ventures Platform,... ![Cecille Abegunde](https://app.hubspot.com/settings/avatar/6539293495ddd6443ce11028fe008f5b) [Cecille Abegunde](https://blog.termii.com/author/cecille-abegunde) [Read More](https://blog.termii.com/termii-raises-3.65m-funding-to-fuel-customer-engagement-innovation-in-africa?hsLang=en) Over 20,000+ businesses in Africa use Termii to both verify, authenticate and engage their customers easily. Termii is free to integrate and easy to set up. Try us out today.   --- ## © 2024 All Rights Reserved. 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