Churpy Raises $1m to expand in Africa

Churpy, a Kenyan finance firm, has received $1 million in seed funding from Unicorn Growth Capital. Churpy will use the funds to establish hubs in African countries such as Egypt, Nigeria, and South Africa, allowing the company to expand across the continent.

Antler East Africa, Nairobi business angel network, and some of Rally Cap’s LPs, including top executives from Stripe, were among the other investors in the round.

Hiring more employees to help facilitate innovation in the hubs across the areas, as well as investing in product development to scale its offering, are all part of its expansion plans into Egypt, Nigeria, and South Africa.

After meeting at an Antler East Africa accelerator program, Kennedy Mukuna and John Kiptum launched Churpy, and James Kanyangi joined the founding team.

Account reconciliation — for different ERPs — connectivity with multiple Bank APIs, and an invoice payment marketplace are all features of the company’s comprehensive receivables management software.