TopUp Mama, a Kenyan startup, earns $1.7 million in a seed round to help African businesses
TopUp Mama, a Kenyan startup that connects African eateries with supplies, banking services, and business management tools, has raised US$1.7 million in venture capital to help it expand.
TopUp Mama is a one-stop-shop for restaurants in Kenya and Nigeria that provides them with all of the essential supplies, short-term finance, and tools to manage their companies. It was founded in 2021 by Njavwa Mutambo, Emilie Blauwhoff, and Andrew Kibe.
The company has grown by over 1,000%, signed up over 3,000 restaurants, and expanded into Nigeria since raising its pre-seed round ten months ago. It has recently completed a seed round of US$1.7 million.
Next Billion Ventures, Future Africa, Jedar Capital, HoaQ Fund, First Check Africa, and DFS Lab are among the investors in the round, which is led by Ventures Platform and JAM Fund.
TopUp Mama plans to use the capital to expand its business, improve its technology, and scale its restaurant sales management capabilities.
“I grew up in a restaurant in Zambia, and I’ve seen firsthand how tiny companies can change people’s lives.” This is why TopUp Mama’s CEO, Njavwa Mutambo, is passionate about growing restaurant contribution to Africa’s GDP.
“We feel we have a once-in-a-lifetime potential to develop Africa’s most prominent restaurant partner and one of Africa’s largest corporations.”
TopUp Mama’s influence across restaurants, according to Ventures Platform creator Kola Aina, “serves as the heartbeat of neighbourhoods in Africa.”
“Topup Mama gives restaurant operators access to low-cost ingredients and advanced data analytics so they can serve great meals that keep us nourished and bring us together.” They also assist eateries in expanding their consumer base while enhancing efficiency,” he added.
