Deal Street

African Startup Funding Tracker

$616,779,000+

*Data updated daily at 18:00 EAT

Nigerian CaaS Startup Termii Raises USD 3.65 M Funding For Expansion
Nigerian CaaS Startup Termii Raises USD 3.65 M Funding For Expansion

Nigerian communications-as-a-service startup, Termii, has secured USD 3.65 M in new financing, bringing its total funding to date to slightly over USD 5 M. The new funding will help fuel the company’s expansion initiatives and the development and promotion of both existing and new products in new markets. The round was led by Fintech Collective and Ventures Platform, with participation from Launch Africa Ventures, Nama Ventures, Aidi Ventures, Ralicap Ventures, Now Venture Partners, Vastly Valuable Ventures, NOA Capital, Assembly Investors, Probability Ventures, Adamantium Fund, MyAsia VC, Uncovered Fund, Afropreneur Angel Group, and angel investors Aubrey Hruby and Eamon Jubbawy.

Termii’s API-based communication infrastructure enables businesses, particularly fintechs, to engage customers through various channels, including SMS, voice messaging, mobile tokens, alerts, and a two-way support system. The startup’s primary focus for expansion lies in Francophone African countries, with the Ivory Coast being the initial target.

To facilitate this expansion, Termii has recently launched the TermiiGo mobile app. Positioned as Africa’s first cross-company mobile virtual solution, TermiiGo embodies features similar to popular apps like Google Authenticator, Twilio’s Authy, and WhatsApp. It offers direct-to-mobile notifications, SMS messaging, time-based OTPs, and local and international calling for enterprise businesses. TermiiGo also leverages the mobile virtual network operator (MVNO) model to provide global eSIM activation across Africa.