South African fintech startup Scale, an issuer orchestration platform and payments enabler, has raised a US$700,000 pre-seed funding round to accelerate its expansion into Kenya, Ivory Coast and Zambia.
Founded last year by Miranda Perumal, Scale specialises in card-issuing enablement that help fintechs achieve their go-to-market and speed-to-revenue strategies, leveraging their expertise and innovative tech stack to accelerate onboarding and product launches.
The startup’s US$700,000 pre-seed fundraise is led by prominent early-stage investors 54 Collective (formerly Founders Factory Africa) and First Circle Capital, joined by Sunny Side Venture Partners and prominent expert angels from the industry.
Scale will use the new funding to accelerate its market entry into Kenya, Ivory Coast, and Zambia, where the company is poised to go live. This comes after Scale previously secured banking, network, and payment technology partners, positioning itself as a modern card issuing orchestration and Infrastructure-as-a-Service (IaaS) enabler.
Perumal said she believes the investment is testament to Scale’s value proposition and the venture’s commitment to propelling African fintechs to new heights.
“It’s not just what we do; it’s ingrained in the very fibre of our values. With the backing of our esteemed investors and partners, we are well-positioned to expedite our ecosystem engagement, build trust with African businesses and continue to strongly focus on solving major pain points when enabling card rails by delivering unrivalled, world class service,” she said.
