Kenyan startup MPost, which has developed patented technology that enables users to transform their phone into a unique mobile postal address and mobile postal box, has raised an undisclosed round of pre-Series A funding from Cape Town-based VC firm HAVAÍC.
Founded in 2015 by Abdulaziz Omar and Twahir Mohamed, MPost has developed a platform that enables the conversion of mobile numbers into official virtual addresses, which allows notifications to be sent to clients whenever they get mail through their postal addresses.
The startup, which has already obtained 40,000 users thanks to a partnership with the Postal Corporation of Kenya, has been primarily self-funded but obtained some angel investment last year. Its new funding round, which was concluded earlier this year, comes from established investment and advisory firm HAVAÍC, which also plans to participate in MPost’s forthcoming Series A round.
“We are excited that Havaic is investing in MPOST. As a seasoned investment and advisory firm, HAVAÍC will undoubtedly bolster MPost’s growth and impact in the region. This is a vote of confidence in our product and indeed our vision as a company,” said MPost chief executive officer Abdulaziz Omar.
MPost, which will soon to be live in Uganda ahead of further launches in Rwanda, Botswana, Tanzania and South Africa, last year took part in the Startupbootcamp AfriTech accelerator programme in Cape Town, through which it was introduced to HAVAÍC. MPost will welcome Startupbootcamp AfriTech co-founder Zachariah George on board as a strategic advisor, while a formal board will be instated after the completion of the Series A round.
“This partnership with Startupbootcamp, HAVAÍC and MPost will enable us to enhance the efficiency and user experience of the product, and improve the long term benefits to our clients and stakeholders,” said chief technology officer (CTO) Twahir Mohamed.
HAVAÍC’s Rob Heath, the partner responsible for pan-African and international business at the firm, explained why it invested in the startup.
“After spending time with Aziz and Twahir in Nairobi and seeing the solution in action, it’s clear that this is not just a technology and commercial product. MPost makes a real impact on people’s daily lives and as an investor, it’s rewarding when we can tie these two elements together. That being said, this is a great example of African problems producing global solutions – one of the cornerstones of our investment thesis at HAVAÍC,” he said.
