Nigerian communications platform-as-a-service startup Termii has raised $3.65 million in new financing, bringing its total funding to date to slightly $5 million. Emmanuel, Ayomide Awe and Atinuke Idowu launched Termii in 2017 after the founders recognized the need for African businesses to have exceptional communication channels. The startup’s API-based communication infrastructure allows businesses, particularly fintechs, to engage customers via different channels, including SMS, voice messaging, mobile tokens, alerts, and a two-way support system. Termii plans to expand its product offering beyond regular messaging services to include calls and OTP (one-time password) generation to increase transaction numbers. Other backers in the round include Nama Ventures, Aidi Ventures, Ralicap Ventures, Now Venture Partners, Vastly Valuable Ventures, NOA Capital, Assembly Investors, Probability Ventures, Adamantium Fund, MyAsia VC and Uncovered Fund.

Source: The North Africa Journal June 12, 2023 07:11 UTC