Termii, a Nigerian CaaS startup, secures $30,000 seed fund from Transsion-backed incubator, Future Hub

by | Nov 20, 2019

Nigerian communication and collaboration platform, Termii, has raised $30,000 seed fund from Future Hub, a China-Africa early-stage startup investment and incubation plan backed by Transsion.

This makes Termii the first startup funded by Future Hub backed by Transsion, established in September to raise equity-based investments of up to $300,000 for early-stage African startups.

Termii is solving customer retention challenges for businesses through an API-based communication infrastructure which drives a repeated interaction between customers and brands, while also providing multi-channel real-time messaging. And the platform uses a per-billing wallet system.

The startup intends to utilise this fund to optimise the platform for users across three key markets in Africa including Nigeria, Ghana, and Kenya, and at the same time upgrade customer authentication and verification APIs which seem to be highly demanded in the addressable market.

Advertisement

In 2014, co-founders, Gbolade Emmanuel and Ayomide Awe started Termii as a team-networking platform.

“We had a platform where companies can [sic] sign up on and interact with each other and also find tools suitable for them to function appropriately,” Emmanuel, Termii CEO, explains.

Following a rebrand and an official launch in October 2017, Termii now helps businesses retain their existing customers by effectively segmenting them based on an individual’s unique needs while also driving personalised marketing messages that suit every client’s peculiarity.

At the moment, Termii is headquartered in Lagos, Nigeria but also serves customers in Morocco, Ghana, and Benin Republic.

Having sustained the business so far through founders’ investments, the fund raised from the Transsion-backed incubator will serve as a major boost to further establish the brand across Africa.

Approaching its second full-year of operation since pivot, Emmanuel stated that Termii has largely grown while leveraging on multiple communication channels that provide alternative delivery options to customers.

“We have grown from a few customers to hundreds of top brands using our platform like Bankly, Fundall and other fast-rising fintech [companies] as well as service providers”

From an initial size of 100 businesses on the platform at launch, Termii’s client base has grown to about 1000 comprising mostly of marketing and development teams within companies.

Advertisement

According to Emmanuel, getting customers to abide by industry regulations is one key challenge the startup has relatively managed by integrating regulatory procedures into the platform and duly verifying customers after signing up.

It appears Termii has a market advantage as he claims there are only a few local firms providing such affordable service to companies, especially in Nigeria.

DON’T MISS OUT!
Techpoint Digest
A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!
Stay Updated
Give it a try, you can unsubscribe anytime. Privacy Policy.

Human enthusiast | Writer | Senior reporter | Podcaster


On September 30, ask the Techpoint Africa team anything. Limited slots available so reserve a spot now.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Recent News

Watch Newsbites

Listen to Built in Africa

Editors' Pick

Editors' Pick

DON’T MISS OUT!
Techpoint Digest
A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!
Stay Updated
Give it a try, you can unsubscribe anytime. Privacy Policy.
close-link

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap