Raise, an end-to-end fundraising platform based in Kenya, has received an undisclosed quantity of funding from Carta, a San Francisco firm specializing in capitalization table management and valuation software.
Marvin Coleby and Eugene Mutai founded Raise in 2018, and it went public in June of that same year.
Raise platform offers a comprehensive solution for managing shareholding structure, both before and after fundraising, allowing businesses to concentrate on growth and creating a prosperous future. It is designed to make cap table management for startups and businesses operating within the African ecosystem simpler.
Raise also intends to make use of the Carta API and the open cap table standard it is developing to offer its clients first-rate ownership, equity, and security experiences.
Existing Carta users and shareholders can sync their assets with Raise directly and perform health checks against macroeconomic and legal developments in Africa.
“Since the Carta strategy team joined our cap table, we’ve been working really closely with them to understand how to bring the best customer experiences to African tech. We’ve been learning everything we can, from podcasts and mentorship from growth, content, sales, finance and engineering teams all the way from C-Suite to management-level teams at Carta. Carta is the best at what we do, and we figured we could learn how to apply those learnings to build Africa’s largest ownership platform,” Coleby said.
Customers of Raise can expect a relaunch of its electronic shares product as well as experiments with African currency settlements, syncing with syndicate platforms throughout the ecosystem to allow direct investment into equity structures and cap tables, and integrated market data from the tech ecosystem.
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Workpay, a Kenyan HR-payroll firm, raises $2.7 million in pre-Series A funding
Jumba, a Kenyan startup for procuring building supplies, receives $4.5 million in seed funding
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