The digital addressing startup secured backing from Angel Investment Network to fund international expansion and double its headcount.
"A physical address should be a human right. Whether it’s opening up a bank account or getting an ambulance to your door, every person on this planet deserves access to these services. This raise is a vital stepping stone to unlock our growth into Nigeria as well as explore new markets across Africa, Middle East and Asia. The Angel Investment Network was instrumental in our fundraising success and has really helped us on our Mission to enable half the world without a physical address to “be included.”"
The Series B round was led by Deutsche Bank alongside participation from Deutsche Börse and Citi.
"We’re delighted to enjoy the confidence of these premier global institutions and to give them an important voice on our Board of Directors as we continue on our exciting growth trajectory. During this unprecedented period of global turmoil and market volatility, it speaks volumes for the CloudMargin business model, achievements and strategy that we were able to successfully close this meaningful investment round with such high calibre partners as Deutsche Bank, Deutsche Börse and Citi. For financial services institutions, the impact of COVID-19 has further reinforced our value proposition by highlighting many challenges the industry has faced for a prolonged period and acting as a catalyst to drive transformational change; firms are placing a strategic priority on adopting modern, Software-as-a-Service based cloud technologies that provide agility as well as operational and cost efficiencies."
The alternative lender has backed the payments fintech to support its growth across domestic and international markets.
"Total Processing has a proven business model and as the business continues to scale, it still looks likely to deliver the triple digit growth it has seen year-on-year, which is incredibly impressive; the momentum is almost tangible."
Zetogon backed the pre-seed round to help fund the commercial launch of SmatCrows.
"Nigeria comes first with an official launch of our flagship product called Smatcrows in October and a similar launch would be carried out in other African countries by Q2 2021,"
