Company
Date Published
Author
Filippos Kyprianou
Word count
558
Language
English
Hacker News points
None

Summary

The African startup ecosystem is gaining momentum, with startups raising significant funds in 2021. Chapa, a fintech startup founded in January 2020 by Israel Goytom and his team, is making waves by simplifying payment methods for companies in Ethiopia. The company aims to connect Ethiopian businesses to the global economy, empowering 100,000 businesses by 2025. With a focus on fixing fragmented payments and providing solutions for payment and transaction issues, Chapa uses Vonage's SMS APIs to notify users of transactions and has already transacted over USD 6 million in less than four months. The company has received angel investment so far and is committed to being customer-centric, understanding its users before building a solution. With the goal of making payments infrastructure for ambitious Ethiopian businesses, Chapa is poised to have a significant impact on the continent's economy.