Talk360, a South African startup, has received $7M in seed funding

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Talk360 is a South African Voice over Internet Protocol startup that has raised $3 million more than the seed round. This brings the total amount raised in this round to $7million.

Talk360’s most recent investors are Allan Gray E2 Ventures, Kalon Venture Partners and E4E Africa. Endeavor is the lead investor. There are also a few angel investors like Tjaart van den Walt and Coenraad Jonker.

The company plans to use this funding to launch a pan African payment platform next year, and increase its VoIP market share. Talk360’s payment platform will include “all payment options” on the continent. This creates a wide range of localized payment options that make it easier for local and international businesses to sell to African buyers.

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“The new platform will enable users to purchase products and services across the continent using any currency and over 160 payment methods. Talk360 stated in a statement that the platform will be open to other merchants.

Talk360 stated to economicpitch in an interview that it decided to become a payment aggregator because of the difficulties it faced in implementing digital payments options. This affected its bottom line in internet calling.

Dean Hiine is the co-founder of the startup and its managing director for Africa. He said that there are many digital payment options in Africa and some require lengthy processes. This can affect the conversion rate.

Hiine co-founded the startup in 2016 with Hans Osnabrugge, Jorne Scheamp. He hopes to tap into the payment platform to allow more people to use its app to make international calls. Talk360 users can make calls for a fee. The platform is built so that only the initiator — a smartphone and the internet — needs to use it.

Hiine stated, “Our mission is to connect people and bridge distances by providing reliable, affordable and simple-to-use digital services that are localized to all communities, especially emerging countries, so that they can connect with the rest of the world.”

These agents allow users to purchase airtime vouchers at more than 750,000 physical points.

“But we’re not just solving socio-economic issues: we’re also offering micro-entrepreneurship and income generating opportunities to our growing network of agents across the country.”

According to the company, its internet calling app has connected more than 2.3 million people around the world so far this year. It also reported a 167% increase in users and a 130% increase in revenue. There are over 170 countries where the app is used, including South Africa and Zimbabwe.

We invested more in Talk360 because of its strong performance in South Africa and potential for growth in other African markets. The company has seen remarkable growth since our initial investment and demonstrated a genuine ability for Africa to overcome the distribution challenges. Ian Lessem, managing partner at HAVAIC, said that the company has converted users into paying customers by providing relevant services and making it accessible in an easy-to-affordable, reliable, trustworthy and reliable way.”

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