Taz Technologies, the brains behind patented innovation MPost has secured US$ 1.9 million in its first round of funding. The company offers postal services via mobile phones. The Startup intends to utilize the finances to develop its platform further, as well as expand its services across the region.
In the recent funding round, the company successfully attracted investors from around the globe, including both leading venture capitals and high network individuals. This is one of the major achievements of the 4-years old company, which recently secured an undisclosed amount in its pre-series A funding.
“With the help of our esteemed investors, we are gearing up the development of our product functionalities. MPost will also create other value-added services for the benefits of the society,” quoted Cofounder Abdulaziz Omar.
Taz recently joined hands with Posta and Telco giant Safaricom in Kenya. The new partnership enables users to send packages to virtual postal addresses. With the help of MPost, Posta Kenya will allow Safaricom users to register for MPost services via the USSD code *234#. The company is targeting 5 million customers in Kenya for their benefits, permitting them to pick up packages in any of the 625 Posta offices.
As of now, MPost has connected with over the 40,000 users, thanks to the recent partnership. The Startup is aiming to deliver its service to more people with the new funding.
“We are pleased with the key commercial traction and corporate partnerships that MPost has achieved during and post the program. We are happy to have a strong support of top global investors that have validated this product-market fit in their Series A round,” Omar said.
As of 2019 winds down, the African market has been giving a strong indication that the African startup ecosystem is finally catching up a bit with the rest of the world and the picture may even look bigger in 2020.
