Budgeta financial management solution, announced the successful closing of a $2 million funding round.
The round was led by Y Combinator (YC) and included investment from prominent backers such as; Introductory chapter, Voltron CapitalUnpopularVC, Kima VenturesCo-founder of Dropbox Arash Ferdowsi, Alan Rutledge, Tristan Walker – Heirloom VC and Abdul “Tomiwa” Hassan.
Details
As a financial management platform, Bujeti offers a unified solution that streamlines expenses, automates payments, issues cards to employees and suppliers, and digitizes financial workflows.
The $2 million funding will propel Bujeti into a phase of accelerated growth, further cementing its position as an indispensable ally for businesses navigating the complex landscape of financial management across Africa.
Digging deeper
This latest investment milestone will propel Bujeti to accelerate growth, increase market share and expand product offerings. With this, the company will focus on introducing lines of credit for small and medium-sized businesses and developing new products tailored to business needs. At the core of its mission, Bujeti’s importance lies in addressing the industry’s need for unified tools that seamlessly manage finance and operations.
The platform provides interactive tools that allow businesses to take control of their expenses, increase their revenue and track their finances with features such as:
- Expense Management Suite: Cash Management, Expense Workflows and Payments.
- Revenue Optimization Suite: Workflows and Billing Collections.
- Financial Management Suite: Analytics, Reporting, Accounting and Compliance.
What they say
Achille, Founder and CEO of Bujeti, emphasized the company’s commitment to collaboration and becoming the best solution for the entire business ecosystem, similar to platforms such as Teams or Slack. “Our differentiation lies in providing unparalleled control and visibility into financial operations, enabling businesses to digitize complex payment and finance processes effortlessly. Bujeti stands as a digital ally, empowering workplaces and building trust between teams.”
Record
Founded in 2021 by Cossi Achille Arouko, who has a background in software engineering and previous initiatives at Paystack, Bujeti was built with a mission to simplify financial management for African businesses. As such, it is a one-stop-shop that integrates all the elements needed for a business to seamlessly manage its finances and operations.
“In the last 8 weeks, we have onboarded nearly a thousand businesses of all sizes, including small and medium-sized businesses and well-known startups, reflecting the trust and recognition of the effectiveness of our platform»,
Achilles added further. “Our imminent target is to reach ₦200 million in transaction processing, indicating the growing demand for a complete, end-to-end solution like BujetI.”
One of the main investors Abdul Tomiwa HassanMono’s CEO commented on the recent fundraising saying;We are excited to support Bujeti in its mission to revolutionize financial management for businesses across Africa. Bujeti’s innovative platform and Cossi Achille Arouko’s leadership position the company as a game changer in the industry. Investing in Achille and Bujeti was an obvious choice. target a highly fragmented market with capable founders who excel in technical and business aspects.
We believe in their potential to transform the way businesses handle their finances and are excited to be part of their journey.”
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