The VoIP (voice over Internet protocol) startup Talk360 has raised $3M a few months after getting the initial seed fund. Now its total investment from both rounds stands at $7M. The latest round of investment has been made by investors Kalon Venture Partners, Endeavour, AGEV, E4E Africa, the main investor HAVAiC, and some angel investors that include Coenraad Jonker and Tjaart van der Walt.
The company plans to use this latest round of funding to start a payment platform next year for all African countries. The goal is to increase its share in the VoIP market. All African payment options will be integrated creating a group of local payment options. This system will make it easier for local and international companies to sell in Africa.
People across the continent will have over 160 payment options. They can buy products and services in their preferred currency, according to a statement issued by Talk360. The company had informed earlier that it decided to start a payment aggregation platform after it faced challenges in implementing different digital payment methods. It encountered various problems that affected its VoIP business.
The managing director and co-founder of the startup, Dean Hiine informed us that present digital payment systems across Africa do not work with each other. Some of them have complex and lengthy processes that affect their conversion rate. Hiine started this startup with Jorne Schamp and Hans Osnabrugge in 2016. With the launch of this payment platform, more people will be able to make international calls from Africa using its app. A unique feature of this app is that only the users initiating the calls need it on their smartphones.