“So far, we have been successful in serving customers with pure messaging solutions however, we realized that the demand for customers grew beyond messaging,” said the CEO of TermiiGo’s capabilities. Its newly launched mobile app TermiiGo, which the company claims to be “Africa’s first cross-company mobile virtual solution will be the main engine behind that growth. The YC-backed startup plans to expand its product offering beyond regular messaging services to include calls and OTP (one-time password) generation to increase transaction numbers. He added that Termii’s annual recurring revenue consequently increased 30x, and message transactions on its platform grew from a million to 400 million within this timeframe. Now, over 10,000 businesses rely on the startup’s API and no-code campaign dashboard for terminating SMS and voice messages monthly, according to CEO Emmanuel. In 2021 when the customer engagement platform banked $1.4 million in seed funding, it served more than 500 fintechs (they make up 89% of its customer base), including Chipper, Paystack, Moniepoint and Piggyvest, among others, and over 1,000 businesses and developers used its APIs. The startup’s API-based communication infrastructure allows businesses, particularly fintechs, to engage customers via different channels, including SMS, voice messaging, mobile tokens, alerts and a two-way support system. According to CEO Gbolade Emmanuel, in a chat with TechCrunch, the funds are not needed for operational activities but rather to power the company’s expansion initiatives: developing and promoting existing and new products in new markets with a priority to Francophone African countries (starting with the Ivory Coast), and not North Africa as earlier planned.Įmmanuel, Ayomide Awe and Atinuke Idowu launched Termii in 2017 after the founders recognized the need for African businesses to have exceptional communication channels. Nigerian communications platform-as-a-service startup Termii has raised $3.65 million in new financing, bringing its total funding to date to slightly more than $5 million.
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