TopUp Mama a Kenyan startup that makes it easy for eateries to access supplies, banking services and management tools has raised $1.7 million in seed funding.
The investment brings onboard Ventures Platform and JAM Fund, Next Billion Ventures, Future Africa, Jedar Capital, HoaQ Fund, First Check Africa, and DFS Lab.
The firm was founded in 2021 by Njavwa Mutambo, Emillie Blauwhoff and Andrew Kibe. TopUp Mama has a unique business model that enables restaurants in Kenya and Nigeria to get essential supplies, short-term finances and tools to help them efficiently run their enterprises.
Within its short period of operation, TopUp Mama has managed to grow remarkably with 3,000 merchants on the platform. About 1000 of them are considered active users.
The company sources supplies from distributors and farmers and conveniently deliver them to merchants at the end-of-chain point. The B2B startup uses a fleet of vehicles to make these deliveries.
“I grew up in the restaurant business in Zambia, and I know first-hand the power small businesses have in transforming lives. This is why we’re passionate about increasing restaurant contribution to Africa’s GDP.”
TopUp Mama is determined to bridge the gap by reducing fragmentation within the restaurant business. Ordinarily, a restaurant will have several suppliers making deliveries on-demand. This may lead to frequent stockouts or challenges in the quality of supplies.
Kola Aina, creator of Venture Platform said, “TopUp Mama empowers restaurant owners with access to affordable foodstuffs and powerful data analytics to deliver the delicious meals that keep us sustained and bring us together. Importantly, they also help restaurants grow their customer base while improving efficiency.”
The first-growing startup intends to use the funds to accelerate its growth, expand its technology, and scale its restaurant sales management capabilities.
Follow us on Telegram, Twitter, and Facebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates. Send tips to info@techtrendske.co.ke
