Taz Technologies, the parent company of Kenya’s MPost, has secured $1.9 million Series A investment to fund its expansion and boost its operations.
While the new funding will be invested in accelerating its strategic expansion into the East African region, it is now eyeing Sub-Saharan Africa in its next growth phase.
MPost which was founded in 2015 by Abdulaziz Omar and Twahir Mohamed is a platform that allows the conversion of mobile numbers into official virtual addresses, which allows notifications to be sent to clients whenever they get mail through their postal addresses.
The technology makes it convenient, reliable and affordable to send and receive packages, as well as provide last-mile connectivity, through post offices worldwide.
Taz has also partnered with the Postal Corporation of Kenya (PCK) to provide virtual postal addresses, meaning MPost customers can now collect their parcels or letters at any of the 623 postal offices countrywide.
“With the support of our investors, we are accelerating the development of our product functionalities and creating other value-added service offerings,” said Omar.
“We are extremely pleased with the key commercial traction and corporate partnerships that MPost has achieved during and post the program, and are delighted that this product-market fit has been validated by a strong consortium of global investors in their Series A round,” he said.
The funding round attracted both existing and new investors from South Africa, Australia, Japan, the United States (US), Canada and Nigeria.
