On a mission to develop underserved startup ecosystems, Kenya-based community-led marketplace, Pariti, has raised $2,850,000 seed funding.
Pariti is building a digital infrastructure to enable these startups scale in emerging markets. The company’s new funding will be used to build SaaS workflows to aggregate multiple forms of raising capital, from traditional equity and debt to DeFi solutions.
Included in the company’s plans is the enhancement of its talent marketplace, creation of a bespoke solution for investors looking to invest and support founders, hire talent, build bigger communities and expand into new markets.
The round was led by U.S.-based Harlem Capital. In Africa, it’s the first deal of the diversity-focused fund that secured $134,000,000 for its second fund earlier this year. Other investors — Better Ventures, Accelerated Ventures, Diverse Angels, AVG Basecamp and New General Market Partners participated.
Founded by Yacob Berhane and Wossen Ayele in 2019, Pariti has grown 795% thanks to the digital enhancement brought about by the pandemic and the growth of the African tech ecosystem.
With over 880 companies across 42 countries on its platform and up from 500 early this year, Pariti has built a principal product called the Recommendation Engine.
With this product, founders can receive reviews and feedback for the companies, from experts on the platform. The engine suggests personalised next steps for the founders to take in areas where the company needs help.
Along with helping talents monetize their skills, Pariti also enables VCs and angels to find, vet and execute deals.