The Kenyan startup Raise, which is an end-to-end fundraising platform, has reportedly received undisclosed but significant funding from Carta. Carta, situated in San Francisco, is a company that specialises in capitalization table management and valuation software.
Raise was established in 2018 by Marvin Coleby and Eugene Mutai. In 2019, the company released its alpha version, and in June of 2020, it became public.
Its platform is designed to simplify cap table management for startups and companies operating within the African ecosystem.
It provides a comprehensive solution for managing shareholding structure, both before and after fundraising, which enables businesses to focus on growth and building a successful future.
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More On Carta Funding
Carta, the largest ownership platform in the world, which is seeking to develop a worldwide stock exchange for private enterprises, has provided Raise with cash. This enables Raise to continue its work. Carta has successfully funded $1.2 billion dollars and grown to include two million shareholders, US$2.5 trillion dollars in assets, 35,000 enterprises onboarded, and is continuously making acquisitions and investments into ownership products that are analogous to those in strategic markets all over the world.
“Ever since the Carta strategy team became a part of our cap table, we have been collaborating extremely closely with them to figure out how to provide the most positive customer experiences possible in the African technology industry. Podcasts and mentorship from Carta’s growth, content, sales, finance, and engineering teams all the way up to the C-suite and management-level teams have been invaluable sources of information for us as we work to expand our knowledge. Coleby claimed that they believed they could learn how to apply what they had learned at Carta to establish Africa’s largest ownership platform because Carta is the best at what they do.
“We are still in the process of determining what product-market fit would look like in African technology. We’ve investigated a wide variety of possibilities with the Carta team, and we’re going to possibly post some polls on Twitter so that you can tell us what kind of product you want us to develop.
In the meantime, customers of Raise should expect the company to soon launch new liquidity products and experiments with African currency settlements, syncing with syndicate platforms across the ecosystem to invest directly into equity structures and cap tables, integrated market data from the tech ecosystem, and a relaunch of its electronic shares product.
In addition, Raise intends to leverage Carta’s application programming interface (API) and the open cap table standard it is currently developing to give consumers with ownership, equity, and security experiences of the highest calibre. Customers who already use Carta and shareholders in the company have the ability to seamlessly connect their shares with Raise, where they can also perform health checks based on African legislation and macroeconomic trends.
About Raise
Raise is a tool that was developed to make the management of cap tables for startups and companies working within the African ecosystem easier. They offer a comprehensive solution for managing shareholding structure, both before and after fundraising, which enables businesses to concentrate on expanding their operations and establishing a prosperous future for themselves.