Fintech Startup Payhippo Raises USD 1 Mn Pre-seed For Expansion

Payhippo, a Nigerian startup that provides business finance, has raised USD 1 Mn in a pre-seed round led by Pan-Africa VCs, Ventures Platform, Future Africa, and Launch Africa. Sherpa Ventures, an Africa-focused venture capital firm, Hustle Fund, and Mercy Corps Venture are among the other investors.

Payhippo seeks to provide financing to African small businesses while also assisting them in building their credit histories. The startup plans to use the fund to expand its reach to more Nigerian cities and build its engineers’ team.