Ghanaian fintech startup KudiGO has formally launched after a successful public beta phase, and is now closing in on a US$300,000 seed round as it expands into other markets.
KudiGO provides an integrated, mobile-based retail, payments, accounting and analytics engine for the consumer retail industry, providing a complete solution for businesses to receive payments, track inventories and build sound financial models based on past trends.
After over one year in public beta, it has now launched formally, with the goal of providing an all-in-one retail PoS for stores. The aim is for KudiGO to enable its customers to have verifiable records, business oversight, and easier access to capital.
The user-oriented solution takes into considerations network connectivity in Sub-Saharan Africa and provides an offline-online sync to help stores have their data backed up securely in the cloud.
“One of the key learnings over the beta period was the need to simplify the solution with a focus on usability by non-tech savvy users, while at the same time providing them with pertinent data on their business when they need it and in a format they can easily understand. This has led us to introduce a machine learning algorithm which does trend prediction, and provides this data to our users in a simple SMS with key information on things to do to improve their business,” said Kingsley Abrokwah of KudiGO.
Disrupt Africa reported earlier this year on the startup’s ambitious expansion plans, with KudiGO having already launched in Nigeria. It currently has over 300 businesses using its solution, resulting in more than 300,000 inventories being uploaded onto its system and over 5,000 orders being processed. Abrokwah said it was in the process of closing a seed round worth US$300,000 to facilitate further expansion, while it was also securing partnerships.
“With our recent strategic partnership with Interswitch Group to facilitate payment processing on KudiGO Storefront, we are on track to scale to Kenya and Rwanda in the first quarter of 2019 while at the same time growing our market share in Ghana and Nigeria significantly over the period,” he said.