Kenyan entrepreneurial venture, Chpter, secures $1.2 million in preliminary funding for its social e-commerce platform.
Kenyan Startup Chpter Raises $1.2 Million to Lead Social Commerce Revolution in Africa
Chpter, a Kenyan startup founded in October 2022 by Kuria Kevin and Mark Kiarie, has secured $1.2 million in pre-seed funding to expand its AI-driven conversational commerce platform. The funding round was led by Pani, with participation from Plesion Capital, Techstars, Norrsken, Renew Capital, ViKtoria Ventures, and a group of angel investors including Benjamin Fernandes from NALA, Paul Kimani from WorkPay, and Jackson Kibigo.
Chpter's platform is designed to improve sales on social networks like WhatsApp and Instagram, making it easier for businesses to engage in sales discussions and streamline interactions, marketing, and payments in a single location. The platform's AI-powered chat automation tools are particularly significant, as WhatsApp boasts over two billion active users, making it a key platform for business communication.
Pani's managing partner, Ken Njoroge, a former founder and CEO of Cellulant, expressed his excitement about the team's "incredible grit" and the potential for Chpter to lead the social commerce revolution in Africa. To this end, Chpter plans to utilize the funds to accelerate product development and broaden product availability across more Sub-Saharan African countries, including Nigeria, Ghana, Egypt, and Morocco.
The addition of Mesongo Sibuti and Tesh Mbaabu, who recently closed their B2B e-commerce platform RejaReja, to Chpter's team is a strategic move that will undoubtedly bolster the startup's growth and success. Mbaabu, who will take on the role of CEO, stated that they are excited to lead the social commerce revolution in Africa and are looking forward to enhancing sales and marketing efforts.
With the support of its investors and the strategic additions to its team, Chpter is poised to make a significant impact on the e-commerce landscape in Africa, providing businesses with the tools they need to succeed in the digital age.
