What is Ziroo?
ZirooPay is a mobile payment solution engineered for small business owners, featuring an ultra-portable card reader that facilitates on-the-go sales. The accompanying free Android application prioritizes security, adhering to stringent payment standards and employing end-to-end cryptographic technology. Key functionalities include customizable receipts, real-time sales tracking, and a straightforward setup process, all aimed at streamlining payment operations and boosting business efficiency. A notable differentiator for ZirooPay is its offline functionality, making it particularly suitable for emerging markets where consistent internet access may be a challenge.
How much funding has Ziroo raised?
Ziroo has raised a total of $12M across 2 funding rounds:
Angel/Seed
$600K
Series A
$11.4M
Angel/Seed (2014): $600K with participation from Inventure
Series A (2022): $11.4M led by Inventure, Zrosk Investment Management, Fedha Capital, and Exotix Advisory
Key Investors in Ziroo
Zrosk Investment Management
ZROSK Investment Management specializes in alternative investment solutions, offering products such as private credit, discretionary portfolios, and the Magna Specialized Fund. The company aims to provide innovative investment strategies tailored to meet the needs of its clients.
Fedha Capital
FEDHA CAPITAL is a sector-agnostic venture capital firm based in Nigeria, founded by five entrepreneurs with extensive experience across various industries. The firm focuses on supporting early-stage companies, particularly those in the Seed and Series A funding stages, with a mission to empower innovative entrepreneurs in Africa.
Exotix Advisory
Exotix Advisory provides expert financial advisory and structuring services to African and international companies, assisting them in making investment and divestment decisions within Africa's complex business environment. The firm specializes in mergers and acquisitions, private placements, capital markets advisory, and corporate finance services.
What's next for Ziroo?
The recent Series A financing, totaling $12M with a significant portion of $11.4M from the latest round, indicates Ziroo is likely in a scaling phase. This strategic investment will probably fuel product development, market penetration, and operational expansion. Ziroo's focus on small businesses and emerging markets, coupled with its offline capabilities, suggests a strategic push to capture underserved segments of the payment processing industry. Future growth may involve enhancing its feature set, expanding its geographic reach, and forging new partnerships to solidify its market position.
See full Ziroo company page
