Kenyan Startup Raise Impact Technologies “Raise” has launched the beta program of its end-to-end platform. The startup recently released its beta program to the public. Raise helps Africa startups through fundraising through digital deal rooms, enabling investors to engage remotely.
The platform runs fundraising simulations to help founders understand how investments impact their ownership. In addition, it helps organize data for companies, making them easier to view. Such processes cut the due diligence process, therefore making fundraising simpler and faster. Nichole Yembra, MD of Chrysalis Capital, says that African startups could spend up to 400 days raising funding because of due diligence delays.
READ ALSO: Nigeria’s eHealth Startup, Helium Health, Raises $10 Million Series A Funding
Speaking on the beta program, Raise Co-founder Marvin Coleby said:
“We’re releasing the public beta to support the ecosystem’s transition to the new norm of remote investing. At Raise, our mission is to bring security, transparency, and simplicity to the African VC space – and make the fundraising process easier and simpler for everyone.”
According to Disrupt Africa, Raise has transacted over $20 million for startups and venture capitalists in Kenya and Nigeria. The company launched its Alpha in 2019, later debuting a private beta in January 2020.
Currently, the startup works with partners Venture capital Firms Chrysalis Capital and Microtraction.
SEE ALSO: African Startup Ecosystem Falls in 2020 Global Rankings
