Funds Raised by Talk360 to Facilitate Communication for African Diaspora, Closing the Communication Divide
Talk360 Secures Pre-Series A Funding, Aiming to Connect Seven Million Users by 2025
In a significant development, international calling app Talk360 has secured $1.4 million in a Pre-Series A funding round. This investment, based on a valuation of over $30 million that the company received in 2022, is set to propel Talk360 towards its goal of connecting seven million users by 2025 and achieving long-term profitability.
The funding round was led by Havaic, a long-standing supporter of the company. Havaic's continued support, despite challenging economic conditions, demonstrates strong confidence in Talk360's future. This round attracted investments from African venture capitalists, European and South African fintech angels, and executives from prominent financial technology companies and the founders of Tyme Bank.
Talk360, which originated as a collaboration between South Africa and the Netherlands, allows affordable international calls, requiring only the call initiator to have the app and internet access. The app's user base has grown from 2.3 million to 4 million in just two years, underscoring its growing importance in the market.
The app's success story underscores the growing importance of tailored communication solutions for diaspora communities. Talk360 is poised to play a significant role in connecting African migrant communities with their families back home, bridging communication gaps and fostering stronger global connections.
To deepen its impact, particularly in underserved communities across Africa, Talk360 is considering opening its payment aggregator platform to external merchants by the end of 2024. The company also plans to expand its language offerings to include more African languages, such as Amharic and Portuguese.
By focusing on affordability, accessibility, and local relevance, Talk360 has built trust within underserved markets. The company's localization strategy is aimed at tailoring its solutions to meet specific local needs. Talk360 aims to establish additional local and global partnerships with remittance companies, retailers, and brands to enhance its service offerings.
In recent years, the company founders who have made investments in Talk360 are not publicly disclosed. However, the recent funding of $1.4 million is a testament to the faith that investors have in Talk360's mission and potential.
In 2022, Talk360 raised $7 million through two seed funding rounds. With this new funding, Talk360 is well-positioned to continue its growth and make a meaningful impact in the lives of millions of users across the globe.
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