Nigerian start-up Termii raises $3.6 million and modifies its expansion plan

After announcing plans to expand into North Africa in 2021, communications platform Termii changes its plans and announces new initiatives to strengthen its activities in Côte d’Ivoire and Ghana.

Active in the customer engagement and communication sector, Nigerian company Termii announced on its LinkedIn page on Monday June 12 that it had raised $3.65 million in financing. This is the largest amount raised since it launched operations in Nigeria in October 2017.

The start-up will use this fund to strengthen its product offering and finance its expansion in sub-Saharan Africa, rather than North Africa as previously announced.

Ventures Platform Fund, which led the investment, praised the start-up’s commitment to solving the communication challenges facing African businesses. “This funding will enable Termii to launch its mobile app and fuel its expansion initiatives, with a focus on developing and promoting its new and existing products in new markets, particularly in French-speaking countries in Africa,” it said on its LinkedIn page.

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Termii, which enables businesses to communicate more easily with their customers via multiple messaging channels, had secured $1.4 million in seed funding two years ago.

As part of this $3.6 million financing, Termii received support from a number of investors, including Ventures Platform, Fintech Collective and Launch Africa. The start-up aims to develop new solutions and services first in Nigeria, its main market, and then in Ghana, Côte d’Ivoire and the United States.

In its six years of activity, Termii claims to have built up a portfolio of diversified companies, which use its messaging channels to step up their communication with their customers.

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