Nigerian fintech startup Kippa launches business registration platform to support SMEs
Nigerian fintech startup Kippa has launched Kippa Start, a business registration platform to enable Nigerian MSMEs scale through their businesses.
Many Nigerian merchants are often frustrated by the tedious and time-consuming process of registering their businesses. This contributes to their apathy towards the whole process. Without a business name or company registration, businesses are limited and excluded from several business opportunities including opening a business bank account. Kippa Start is committed to simplifying the business registration process by removing all the possible barriers business owners face while registering their businesses, including delayed response times. Business owners can now register their business names and get their CAC certificates in 5 days.
In this period of growing entrepreneurship across Africa, creating efficient solutions to make business operations upscale is more prominent than ever. With the increasing growth opportunities for businesses, it’s crucial that they operate within the country's legal requirements.
Duke Ekezie, Co-founder and President, Kippa: ''It is an exciting time to build for small businesses in Africa. The growing need for business solutions due to more exposure to the global market and the fast adoption of technology across this segment means that we would experience scale that causes many businesses to move from micro to small, medium, and eventually large. However, scale is impossible without meeting regulatory requirements. Today, we have taken away the complexities of business registration for thousands of Nigerian merchants by making business registration accessible and affordable. Our ultimate goal is to replicate similar values to business owners across the entire continent.''
To accelerate business growth across Africa, Kippa Start will offer company corporation services to Nigerians and expand to Ghana in September. There is an opportunity for a strategic product like Kippa Start to solve the challenges Ghanaian merchants encounter while registering their businesses. More so, Kippa continuously educates business owners about the need to register their businesses. Many business owners are unaware of numerous business growth, and financial opportunities left untapped without a registered business. Some of them include but are not limited to grants and loan access, secured business names, business accounts, etc.
With Kippa's in-app support system, response time is faster, customers have carried along throughout the process, and they're made to feel more confident in the product. The startup recently raised $8.4 million in an oversubscribed seed round led by Goodwater Capital, TEN13 VC, Rocketship VC, Saison Capital, Crestone VC, VentureSouq, Horizon Partners, and Vibe Capital, to accelerate growth.
Founded in June 2021, Kippa provides digital business and financial management solutions for African SMEs, starting with a simple-to-use mobile bookkeeping app, which helps African SMEs keep track of their daily revenue and spending transactions, create invoices and receipts, manage inventory, and see how their companies fluctuate over time recover; ultimately helping merchants to recover debts three times faster.
Kippa has been on a steep growth trajectory under the leadership of Co-founders Kennedy Ekezie-Joseph (CEO) and Duke Ekezie-Joseph (President) who have a history of working together over the last six years, and strong experience launching products for the African market. To date, Kippa has 70 employees across 3 countries and over 500,000 SMEs in its network.