South African startup Maholla, a viral consumer rewards app, has concluded a US$1.5 million seed funding round to help it continue to scale.
Maholla is a viral consumer app that rewards users for scanning any receipt from any store, allowing users to earn rewards irrespective of where they shop. Rewards come in the form of instant airtime, 1Vouchers, in-app games and more.
The company raised a US$580,000 pre-seed round in July 2022, and has now brought its total funding to date to over US$2 million dollars via a US$1.5 million seed round. Investors include the Buffet Group, Castleton Capital, Praesidium Capital Management and Galloprovincialis.
Maholla will use its funding to scale its rewards platform to millions of users and deepen its technical moat.
“Our company is on route to tracking as many purchases as a top five retailer in South Africa” said Jed da Silva, co-founder and head of product at Maholla.
Household names including the likes of Maggi, Milo, Ricoffy, Nola, Rama, Hungry Lion, Fusion, Switch Energy and Mr. Sheen are among the many brands already benefiting from Maholla’s dataset and targeting capabilities.
