Kippa, a Nigerian business accounting startup, has secured USD 3.2 Mn in pre-seed funding in a bid to improve the lifespan of small businesses in Nigeria with its finance management app. The funding round was led by Berlin-based VC Target Global, and other participating VCs like Entrée Capital, Alter Global, and Rally Cap Ventures. A number of prominent angel investors also participated in the round, including Sriram Krishnan, Raffael Johnen, Babs Ogundeyi, Chris Bouwer, Kyane Kassiri, Edward Suh, and Sajid Rahman.
Kippa has developed an app that helps merchants to increase cash flow by recovering debts. Using the app, small business owners can keep track of debtors and send automated debt reminders. Merchants using Kippa recover debts three times faster, unlocking critical cash flow that is essential to the survival of their business. Merchants can also record sales and expenses, create invoices and receipts, manage their inventory, and track the overall profit of their business.