Nigeria-based Kippa, a startup offering finance management solutions, has launched Kippa Payments to enable payments be made via its app. This latest digital product can automatically detect, record, synchronise and therefore validate users’ business data, which was previously self-recorded by merchants on the app.
This launch comes as an appropriation of the Target Global-led round that waltzed Kippa to a $3.2 million pre-seed funding in November 2021.
Kippa is a fintech startup seeking to digitize as well as simplify business management, bookkeeping, invoicing, inventory and now payment. The company uses technology to automate the delivery and use of financial services and to accelerate the growth of small and medium enterprises (SMEs).
Embedded within the new Kippa Payments are features that allow its users receive payments and pay their utilities right from the app.
Business owners can manage their inventory, automate debt recollection process -via SMS and WhatsApp reminders- record income and expense transactions.
Kippa’s first product, a virtual bookkeeping solution that records inventory and track transactions, has served over 350,000 SMEs in Nigeria.
According to Kennedy Ekezie-Joseph, co-Founder and CEO of Kippa, “the launch of Kippa Payments is a significant step in the expansion of our products for Kippa’s fast-growing SME customer base. Our latest digital payments solution further strengthens our position as one of the go-to apps for SMEs in Africa to manage their daily business and finance needs, and marks the next stage for Kippa’s growth as we look to expand our product range, attract new customers, and launch into new markets across sub-Saharan Africa.
“Ultimately, we want to leverage our proprietary fintech solutions to help small business owners flourish, driving socio-economic prosperity across the continent,” he said.
Kippa is currently operational only in Nigeria and expansion to other African markets will become priority once the startup’s presence in Nigeria is well established.