Kenyan start-up Chapter collects $1.2 million in preliminary financing for social commerce ventures
Kenyan Startup Chpter Secures US$1.2 Million in Pre-Seed Funding for Social Commerce Revolution
Chpter, a Kenyan startup founded by Kuria Kevin and Mark Kiarie in 2022, has secured US$1.2 million in pre-seed funding. The funding round, led by Pani, attracted the attention of several notable investors such as Techstars, Norrsken, Renew Capital, ViKtoria Ventures, and a host of angel investors, including Benjamin Fernandes from NALA, and WorkPay co-founders Paul Kimani and Jackson Kibigo.
Chpter's AI-powered chat automation tools are designed to empower retailers to boost sales on social media platforms like WhatsApp and Instagram. By streamlining interactions, marketing, and payments in a single location, these tools aim to revolutionize the way businesses engage with consumers on social channels.
The funding will be used to accelerate product development and broaden product availability across more Sub-Saharan African countries. Chpter's CEO, Tesh Mbaabu, who recently joined the team along with Mesongo Sibuti and Tesh Mbaabu, who closed their B2B e-commerce platform RejaReja, stated that they are excited to lead the social commerce revolution in Africa.
Mbaabu also highlighted the potential of WhatsApp, a platform with over two billion active users, for businesses to offer support, engage in sales discussions, and maintain customer relationships. The Chpter platform is currently operational in Kenya and South Africa, but plans are underway to expand into at least five additional markets in the coming months, including Nigeria, Ghana, Egypt, and Morocco.
Ken Njoroge, managing partner at Pani, noted that his organization is always looking for founder teams with "incredible grit." He expressed his confidence in Chpter's ability to transform the social commerce landscape in Africa.
The revolution aims to cater to an increasing number of consumers turning to social channels for brand engagement and purchases. With Chpter's innovative approach, retailers can expect a significant boost in sales and marketing efforts, ultimately driving growth and success in the digital age.
