The Nigerian fintech startup Kippa, which offers digital business and financial management solutions for SMEs in Africa, has launched its second product Kippa Payments, a digital payments solution enabling users to send and receive payments from customers and perform extended payments transactions automatically.
Launched in June 2021 by brothers Kennedy Ekezie and Duke Ekezie together with Jephtah Chidozie-Uche, Kippa has developed an app that helps merchants to increase cash flow by recovering debts.
Kippa’s first product is a simple-to-use, mobile bookkeeping solution used by over 350,000 SMEs in Nigeria. Using the app, small business owners can keep track of debtors and send automated debt reminders.
The startup last November announced a US$3.2 million pre-seed funding round led by Target Global, and it has now launched its second product – Kippa Payments. Available to access within the existing Kippa app, Kippa Payments allows customers to send transfers and payments for bills, as well as invoices with embedded payment links. The new product can automatically detect, record, synchronise and therefore validate users’ business data, which was previously self-recorded by merchants on the app.
“We are very proud to be launching our new digital payments solution today, which comes at a key time for Nigeria’s fintech sector, as demand from SMEs for digital payments solutions continues to rise,” Chidozie-Uche said. “Kippa Payments will also enable us to have a deeper understanding of our customers through transactional data, so that we can offer more tailored and bespoke products over time, unlocking deeper value within the Kippa ecosystem alongside our existing solutions.”