TopUp Mama, a Kenyan startup which provides African restaurants with access to supplies, financial services and business management tools, has closed a US$1.7 million seed funding.
This seed round was led by Ventures Platform, JAM Fund, Next Billion Ventures, Future Africa, Jedar Capital, HoaQ Fund, First Check Africa and DFS Lab.
The funds will be used by TopUp Mama to accelerate growth, build out technology, and scale its sales management tools for restaurants.
This venture capital startup one-stop-shop for restaurants in Kenya and Nigeria that provides them with all the necessary supplies, short-term credit and tools needed to manage their businesses. It was founded by Njavwa Mutambo, Emilie Blauwhoff and Andrew Kibe, in 2021.
Since raising its pre-seed round 10 months ago, the company has grown by over 1,000 per cent, signed up over 3,000 restaurants, and expanded into Nigeria.
Njavwa Mutambo, the firm’s CEO and Co-Founder said he grew up in the restaurant business in Zambia, and knows first-hand the power small businesses have in transforming lives. He said this is why TopUp Mama is passionate about increasing restaurant contribution to Africa’s GDP.
“We believe we have a unique opportunity to build Africa’s most prominent restaurant partner and build one of the largest companies Africa has ever seen,” said Mutambo.
Ventures Platform Founder Kola Aina said he was excited about the startup’s impact across restaurants.
Aina said TopUp Mama empowers restaurant owners with access to affordable foodstuffs and powerful data analytics to deliver the delicious meals to customers.
TopUp Mama assist restaurants to grow their customer base while improving efficiency.