Taz technologies, the brains behind patented innovation Mpost has raised $ 1.9 (KSh193) million in its first round of funding. The company provides postal services through the mobile phone. The Startup plans to use the finances to develop its platform further, as well as expand its services.
Mpost’s recent funding round attracted investors from all around the globe, including both VC’s and high network individuals. This is another milestone for the 4-year-old company, which recently raised an undisclosed amount in its pre-series A funding.
“With the support of our investors, we are accelerating the development of our product functionalities. Mpost will also create other value-added service offerings,” Disrupt quoted Cofounder Abdulaziz Omar.
The firm is looking to expand across East Africa, as well as the rest of Sub-Saharan Africa.
Taz recently inked a partnership deal in Kenya with Posta and Telco giant Safaricom. The new partnership allows users to send packages to virtual postal addresses. Through Mpost, Posta Kenya will allow Safaricom users to register for Mpost services via the USSD code *234#. The service targets 5 million customers in Kenya, allowing them to pick up packages in any of the 625 Posta offices.
So far, Mpost has reached over the 40,000 users, thanks to the recent partnership. The Startup is looking to reach more people with the new funding.
“We are extremely pleased with the key commercial traction and corporate partnerships that MPost has achieved during and post the program. We are happy that a strong consortium of global investors has validated this product-market fit in their Series A round,” Omar said.