Kenyan fundraising and equity management platform Raise, has raised $25,000 funding from Nigeria’s Microtraction to help African startups fundraise and grow their businesses with ease.
Raise was founded in 2018 by Marvin Coleby and Eugene Mutai. The company drives founders to a faster product-market fit by empowering them with affordable online tools to raise faster and distribute equity to hire talent.
Raise helps African startups manage electronic cap tables, automate financing contracts like SAFEs and share private deal rooms.
“We’re pleased to announce that Microtraction is joining our journey to build Africa’s NASDAQ as an investor and partner. Together, we’ll be building out the future of investing in private and public companies across Africa. We are so excited to be working with Microtraction to build the future of Africa’s capital markets,” Raise’s CEO Marvin H. Coleby said.
Raise aims to help African founders save time lost during fundraising and building their cap tables across their employees, founders and investors.
“Raise’s mission is to simplify equity and democratize access to assets for Africans across the world, where people have the power to create financial independence for their communities, teams, and families,” Coleby said.
The company has so far scaled over 200 companies and over $150 million in equity on the platform, and created over $90 million worth of valuations. It is also working with Africa’s largest corporate law firms to continue onboarding users and scale across the continent.