Chpter Gets Funds to Help More African SMEs on Social Media

Chpter, an innovative AI-powered conversational commerce platform, has successfully raised $1.2 million in a Pre-Seed funding round led by Renew Capital. 

This funding aims to enhance Chpter’s social media support for African small and medium enterprises (SMEs), empowering them to leverage platforms like WhatsApp and Instagram a for increased sales and improved customer interactions. 

The investment will accelerate product development, expand market presence across Sub-Saharan Africa, and bolster sales and marketing efforts to meet the growing demand from businesses seeking to optimize their social commerce strategies.

Transforming Social Commerce in Africa

Founded in 2022, Chpter is dedicated to transforming how businesses engage with customers on social media. 

The platform simplifies social commerce through automated conversations, streamlined marketing, and aggregated payment solutions. 

By addressing common challenges faced by SMEs—such as shopping cart abandonment and fragmented customer interactions—Chpter helps businesses enhance their sales processes and manage customer relationships more effectively.

Tesh Mbaabu, Co-Founder and CEO of Chpter, expressed enthusiasm about the new funding: “At Chpter, we’re dedicated to transforming the way businesses interact with their customers on social media. We look forward to working with Renew Capital to accelerate our growth and further our mission of empowering businesses to elevate their social commerce strategies and take advantage of social media.”

Expanding Reach Across Sub-Saharan Africa

With the new capital infusion, Chpter plans to expand its operations beyond its current markets in Kenya and South Africa. 

The company is set to enter new territories including Nigeria, Ghana, Egypt, and Morocco. 

This expansion will allow more African businesses to benefit from Chpter’s support for African SMEs, providing them with tools necessary for thriving in the increasingly competitive landscape of social commerce.

Chpter’s technology is already making waves in various sectors such as retail, financial services, and education. 

By offering a platform that facilitates seamless engagement on popular social media channels, Chpter is poised to revolutionize how African SMEs conduct business online.

Renew Capital’s Commitment to Innovation

Renew Capital’s investment reflects a broader commitment to supporting innovative solutions that address critical issues faced by African entrepreneurs. 

Esther Mwikali, Senior Investment Manager at Renew Capital, highlighted the significance of Chpter’s approach: “Chpter’s technology solves key problems for African businesses, like shopping cart abandonment and scattered customer interactions. Chpter is ready to drive growth and change the social commerce landscape by making engagement on platforms like WhatsApp and Instagram more effective.”

The backing from Renew Capital not only provides financial resources but also strategic guidance aimed at fostering sustainable growth for Chpter as it scales its operations across the continent.

Read Next: Chpter, Kenyan e-commerce Startup Raises $1.2 Million in Pre-seed Round

The Future of Social Commerce in Africa

As more consumers turn to social media for shopping experiences, the need for effective tools that facilitate these transactions becomes increasingly critical. 

Chpter’s platform stands at the forefront of this transformation, offering a robust solution that enables businesses to meet customer expectations in real-time. 

The funding secured by Chpter is expected to catalyze further innovations within the realm of social commerce in Africa. 

By enhancing Chpter’s help for African businesses, the company aims to equip SMEs with the necessary resources to thrive in a digital-first economy.

In conclusion, as Chpter embarks on this new chapter fueled by fresh investment, it represents a significant step forward for African SMEs seeking to harness the power of social media for business growth. 

With a clear focus on expanding its reach and enhancing its offerings, Chpter is well-positioned to become a leader in the burgeoning field of conversational commerce across Sub-Saharan Africa.

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