Pan-African fintech startup Bamba raises $3.2 million in funding

Oluwajuwonlo Afolabi -

Bamba, an African-focused fintech startup based in Kenya has raised $3.2 million in its seed funding round led by 468 Capital.

  • The new funding will be used to build out its product offering, expand its engineering team and increase its user base across 12 sub-Saharan African countries, it claims.
  • Founded in 2022 by Bastian Gotter, co-founder and early investor in iROKOtv, Bamba is a mobile-first software helping merchants to manage customers, and stock levels, make and receive payments, and access cash advances.
  • The startup is digitalizing the payment process and widening access to credit for micro-merchants in sub-Saharan Africa.
  • Presight Ventures, Jigsaw VC, and angel investors: Mato Peric, Leonard Stiegeler, Laurin Hainy, and Thomas Stafford participated in the funding round.