Nigerian proptech, VENCO has secured $670,000 in pre-seed funding to broaden its all-in-one platform that gives companies for residential and business communities in Africa.
Co-founded by Chude Osiegbu, Reagan Mbitiru, and Uzochukwu Alor, VENCO manages collections, service cost administration, utilities merchandising, customer entry and different companies related to multi-unit property developments.
VENCO’s options simplify on a regular basis processes from invoice funds and customer entry to points administration, utilities merchandising and extra, decreasing the cost-of-service supply and rising comfort.
Prior to now 9 months, VENCO has skilled over 200 per cent progress and at present serves greater than 12,000 property items in six cities throughout Nigeria and Kenya.
Since January of this yr, the corporate has processed over $10 million in transaction worth by means of its platform. This spectacular progress and success reveal VENCO’s skill to supply priceless options for residential and business communities in Africa.
Beginning with Nigeria and Kenya, the oversubscribed funding spherical will enable VENCO to scale its operations and supply its companies to a wider vary of communities throughout Africa. The brand new funding will even assist VENCO construct out its credit score supply infrastructure for hire and family spending.
The pre-seed funding spherical was led by Zrosk Funding Administration, with participation from different strategic buyers together with Voltron Capital, Decimal Level Ventures, Quick Ahead Fund, Tayo Oviosu (CEO of Paga), Odun Eweniyi (COO of Piggyvest), Oo Nwoye, Desigan Chinniah, Dakar Community Angels and Viktoria Enterprise Angel Community.
