Talk360, an international calling app that allows individuals worldwide to make dependable and economic calls to any landline or mobile phone globally, has raised $4 million (R64 million) in financing as it looks to introduce a new pan-African payment platform by mid-2022. The seed round of funding was spearheaded by HAVAC, a significant African venture capital investor; 4Di Capital; and other prominent fintech angel investors.
While the Talk360 app is rapidly expanding on the continent, with an increasing number of paying subscribers, accessibility has been a problem for the continent’s 500 million underserved people.
Users either do not have internet banking, or their local currencies or payment methods are not supported. The new payment platform intends to solve the ongoing inaccessibility issue by allowing consumers to purchase goods and services using any money and more than 160 payment methods. It will also be open to other service providers.
Dean Hiine, a South African venture builder, and Dutch entrepreneurs Hans Osnabrugge and Jorne Schamp launched Talk360 in 2016. With operations in South Africa, the Netherlands, India, and Nigeria, it expects to connect more than 2 million individuals by 2021.
What They Are Saying About Talk360 App
“From the beginning, our purpose has been to bridge distance and connect lives by providing dependable, inexpensive, and simple-to-use digital services offered locally to all communities, particularly emerging countries so that they can connect to the world,” Hiine added.
“The Talk360 app is currently the number one calling app in Africa, regardless of users’ currency or the preferred payment method.” Our reach extends beyond the standard credit and debit card support that multinational corporations typically employ, thanks to our +750K physical points of sale and ability to handle mobile wallets. “We now have enough traction to attract internationally known investors to help us extend our presence and allow other companies to use our unique single-checkout payment platform for all of Africa,” Hiine said.
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The managing partner of HAVAC, Ian Lessem, said that Talk360’s ability to overcome the difficulty of distribution in Africa and organic growth was “nothing short of extraordinary.” He praised the quality of its product, technology, and leadership team.
“With HAVAC’s knowledge, networks, and complementary investments in Africa, we are quite enthused about the prospects of Talk360.” Lessem added, “We think the company will continue on its path of gaining clients at an exponential rate and will also be well on its way to taking advantage of this growth by offering its growing customer base other technology-enabled goods that complement what it already sells.”
More On The New Funding for Talk360
Among the angel investors are several unicorn founders and executives, such as Gaston Aussems (ex-Mollie), Robert Kraal (ex-Adyen), and Gabriel de Montessuss (President of WorldPay International), and Marnix van der Ploeg (ex-Booking.com and EQT). According to Aussems, Africa is an “attractive growth market” with a rapidly increasing middle class.
“Through the calling app, Talk360 has already connected many individuals and is continually enhancing the lives of its clients.”
Talk360 Expected Impact
With 60% of the population under 25, mobile digital services have an enormous opportunity. “The new payment platform will enable suppliers to sell their services across the continent and provide an appropriate payment option for every consumer,” said Aussems.
Through its rapidly expanding agent network, Talk360 also intends to accelerate its mission to create jobs and eliminate unemployment in the communities it serves. “By generating jobs and micro-enterprise opportunities inside different communities, we discovered how we might help African consumers and businesses connect with their loved ones,” said Osnabrugge.
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