The funding round was led by Y Combinator, with participation from Alan Rutledge, Heirloom VC, Tristan Walker, Entrée Capital, Voltron Capital, Unpopular VC, Kima Ventures, Mono CEO Abdul Hassan, and Dropbox co-founder Arash Ferdowsi.
Founded in 2022, Bujeti aims to help African businesses, from small and medium-sized enterprises (SMBs) to large corporations and startups, manage their finances more efficiently.
Bujeti’s platform provides businesses with a simple and fully integrated solution for managing expenses and issuing corporate cards to employees.
The platform targets businesses in various industries, including logistics, healthcare, agriculture, and construction.
It streamlines spending processes by managing the issuance of corporate cards to employees and contractors, allowing businesses to set spending limits, restrictions, and approval flows for various stakeholders.
Adding to its offerings, Bujeti is developing a multi-currency feature that will enable it to manage finances for businesses operating in different countries.
This expansion, coupled with the recent investment, positions Bujeti to become a leading provider of corporate card and expense management solutions in Africa.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Japanese VC firm SBI Holdings and Africa’s Novastar Ventures have announced a strategic partnership, with SBI Holdings committing $40 million to anchor Novastar’s future funds.
Finnish development financier Finnfund has announced a $5 million mezzanine loan to Communication & Renewable Energy Infrastructure (CREI) to support the installation of hybrid power solutions for telecom sites in South Sudan.
Founders Factory Factory, a renowned venture capital company, has secured $114 million in funding to support and accelerate the growth of tech startups across Africa.
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