Kenyan Startup MSurvey Secures Funding From Proparco Investment
This has come following mSurvey’s Series A funding in 2016 that saw Investors like TLcom Capital,Social Capital, Kapor Capital, Golden Palm, and Richard Owen co-creator of globally recognised customer loyalty metric, the Net Promoter Score (NPS) pump in funds.
The follow-up funds were preceded by Seed Investment rounds from Cross Culture Ventures, Alpha Angels and Safaricom’s Spark Venture Fund.
This funding is aiding the growth of mSurvey who are keen on expanding their African market. It is through the funds that the startup is building its infrastructure and partnerships.
mSurvey is a mobile survey platform that connects businesses with their clients in real time. It uses mobile technology to drive decision making for businesses across Africa as well as the Carribean. The startup works with a number of well-known brands.
Some of these notable brands that have worked with startup include Safaricom, Commercial Bank of Africa, Kenya Commercial Bank, Sanlam Insurance as well as US-based companies and institutions including Harvard, Emory and CNN.
While giving his comments during the announcement, Dr. Kenfield Griffith, mSurvey co-founder and CEO said, “Proparco having invested in the private sector within Africa over 30 years, has seen the true potential and impact business growth can have on the continent and African consumers within. The investment speaks volumes to businesses in our markets, of the importance to invest in customer experience as a pillar within your organization to be globally competitive brands.”
Eric Zontsop , Investment Officer at Proparco stated that Proparco’s investment rationale is dependent on the quality of the team leading mSurvey as well as the solutions developed by the company to handle customer feedback in countries within Africa.
Adding that, “Proparco’s investment in mSurvey, in line with its mandate to support innovation and entrepreneurship across the African continent, will help mSurvey scale its customer feedback solution to new regions in Africa and therefore provide businesses with a much needed customer-centric solution tailored to the African market.”
The Kenyan start-up that gathers customer feedback for clients via the mobile phone is increasing businesses’ understanding of consumers across various industries in Africa. Through partnering with companies such as Kenya’s Safaricom, mSurvey understands the customers’ journey hence allowing businesses to easily identify and work on their weak points.
Proparco is a financial institution that is devoted to private sector funding in the sustainable development sector. It finances projects on the key sectors of development: infrastructures with a focus on renewable energies, agro-industry, financial institutions, health, education. Importantly, Proparco, a subsidiary of AFD finances companies whose activity contributes to the creation of jobs and decent incomes, the supply of essential goods and services, and the fight against climate change.