Talk360 has raised USD 1.4 million in a Pre-Series A funding round led by its long-standing investor, Havaic. This capital injection is expected to drive the company’s goal of connecting seven million people by 2025, while strengthening its journey towards long-term profitability.
With the additional funds in place, Talk360 plans to localize into more African languages and set up more local and global partnerships with remittance companies, retailers, and brands. The company enables affordable international calls, requiring only the initiator to have the app and internet connectivity to reach any number globally. So far, the business has garnered strong backing from investors.
In 2022, Talk360 raised USD 7 million through two Seed funding rounds, attracting investments from African venture capitalists and fintech angel investors across Europe and South Africa. This includes executives from Adyen and Mollie, as well as the founders of Tyme Bank.
“We’re incredibly proud of Talk360’s growth. Over the past two years, we’ve gone from connecting 2.3 million users to 4 million in 2023. This funding will help us continue our mission of connecting African migrant communities with their families back home. This payment platform has been exclusively used in-house to establish a strong foundation. The results have been exceptional, with an average 25% increase in payment conversion. We are strongly considering opening the platform to external merchants before Christmas 2024,” said Hans Osnabrugge, co-founder and CEO of Talk360.
Havaic’s continued support of Talk360, despite the challenging economic conditions, underscores their strong confidence in the company’s future. “Talk360’s ability to navigate and succeed in challenging economic conditions speaks to the strength of its business model and clear vision. We are confident this latest round of funding will empower them to deepen their impact, especially in underserved communities across Africa,” said Ian Lessem, Managing Partner at Havaic.