KudiGO, a Ghanaian startup that builds business solutions for clients in the retail industry has closed $450,000 round of seed funding. According to the startup, the money will be used in expanding its customer base and launching a new product to market.
Among its offerings, KudiGO provides retail industry customers integrated, mobile-based retail, payments, accounting, and analytics engine. Its services are currently only available in Ghana and Nigeria.
It is reported KudiGO solutions is being used by at least 1,000 businesses. Solutions such as payment receipt system, tracking inventories, and building up a sound financial record.
This round of funding was led by Founders Factory Africa. KudiGO has also been selected as one of the five startups from Africa that will be participating in the Founders Factory Africa acceleration program. The program will run for six months and will feature three angel investors from the U.S., Ghana, and Nigeria.
Kingsley Abrokwah from KudiGO couldn’t help but show the enthusiasm the team has after being selected to take part in the Founders Factory Africa acceleration program.
“Having successfully closed this initial investment round, we are focused on achieving our year-end target of 5,000 businesses on our platform, achieving a 40% business growth for these businesses by virtue of using our solutions, rolling out our credit referencing and micro-lending modules specifically targeted at users of our platform in partnership without strategic partners and investors,” said Abrokwah.