Cape Town-based firm HAVAÍC announced on Tuesday that it has concluded a pre-Series A first round of funding for an undisclosed amount with Taz Technologies Inc (trading as MPost).
MPost has commenced it’s Series A equity fundraise, targeting a minimum of $2 million. It already has serious interest and commitments from various international investors. HAVAÍC has secured the rights to advance a significant share of this round.
Developed by Kenyan founders Abdulaziz (Aziz) Omar and Twahir Mohamed, MPost is an innovative, simple and affordable solution that utilizes consumers’ mobile phone numbers to create internationally accepted postal addresses, virtual Post Office (PO) boxes and generate real-time cell phone notifications for its customers.
Founded in 2016, MPost has successfully rolled out its system in Kenya as part of a joint venture with the Kenyan government’s postal services, Posta, and is soon to be live in Uganda.
Looking at only the COMESA countries, MPost is addressing a potential target market of 150-200 million customers; and with the international patent and UPU approval, will be looking further afield to other similar jurisdictions.
“We are excited that Havaic is investing in MPost. As a seasoned investment and advisory firm, Havaic 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 Aziz Omar, MPost’s CEO.
MPost is another successful Startupbootcamp Africa (SBC Africa) alumnus and was introduced to HAVAÍC through the collaborative partnership with SBC Africa
“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,” HAVAÍC’s Rob Heath, the partner responsible for pan-African and international business, said.
“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.”