Kenyan Digital Addressing Startup OkHi Secures $1.7m Funding From UK Angel Network

Kenya's OkHi raises £1.4m | Launches in Nigeria - TechMoran

OkHi, the Nairobi-based startup which has developed a digital addressing system for emerging markets, has secured a GBP1.4 million (US$1.78 million) funding round just within two months of looking for funding. The investment came from the London-based Angel Investment Network. 

“A physical address should be a human right. Whether it’s opening up a bank account or getting an ambulance to your door, every person on this planet deserves access to these services. This raise is a vital stepping stone to unlock our growth into Nigeria as well as explore new markets across Africa, Middle East and Asia,” said Timbo Drayson, co-founder of OkHi.

10 Things To Know About New Kenyan App OkHi – KenyaBuzz LifeStyle

Here Is What You Need To Know

  • With the funding, the startup plans to double the size of its team as well as expand its team and grow operations in other African countries.
  • The startup also intends to use the funding to address verification problem for financial services, an endemic problem that holds back financial inclusion across emerging markets.
  •  It is also looking to raise its Series A funding soon.

Why The Investors Invested

Ed Stephens, who led the raise for the Angel Investment Network, said OkHi had ticked many boxes for the network’s investors, who really bought into the company’s mission.

“We were inundated with interest with more than 180 inquiries on the table. OkHi’s digital infrastructure helps to answer a genuine need for people without a formal address to get access to services that can help transform their lives,”

This image has an empty alt attribute; its file name is Investment-1.jpg

“The team’s credentials were impeccable in their experience as entrepreneurs, so we look forward to seeing the huge success of this company as it grows to help millions of people across the globe get better access to services.”

Read also: US-Based VC, Aptive Capital Makes $10,000 Equity-Investment In 3 African Startups

Kenyan digital addressing startup OkHi raises $1.78m funding from UK Angel  Network | AFRICA INC. MAGAZINE

A Look At What The Startup Does 

Co-founded in 2014 by Timbo Drayson, who while at Google led the launch of Google Maps across emerging markets and built Chromecast, the Nairobi-based OkHi has developed technology that enables any business to collect an accurate address from their customer, verify it, and navigate to it. 

It has now received support in achieving this goal after receiving GBP1.4 million (US$1.7 million) in funding, with help from the Angel Investment Network, the world’s largest online angel investment platform.

OkHi, which is also backed by Airbnb co-founder Nate Blecharczyk and Twitter chairman Patrick Pichette, has so far powered millions of uses of its addressing system, and recently launched in Nigeria with Africa’s largest banking platform, Interswitch Group, to solve address verification in Nigeria and beyond. 

Read full article here

GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges

GFA Attract, GFA Weekly Recap & Application Portal For Funding

GFA Weekly Round Up
In this episode of GFA-Attract (VC Edition)
we discuss with Jonathan Berman,
Managing Partner of African Innovation Partners (AIP),
a venture capital/asset management company with $500m in assets under management.

Watch Here
GFA Weekly Round- up
In this week’s weekly round up podcast, Nichole discussed about the funding activity between September 21- 25
Listen Here
Apply For Funding

GetFundedAfrica provides equity capital from $1,000 to $50,000.
For larger amounts (Above $50,000)
we organize syndicated funding rounds of up to $500,000.
Apply Here

Follow Us

See the source image
See the source image

“Success is not final; failure is not fatal: it is the courage to continue that counts.” – Winston Churchill.

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email:

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button