Zuvy, a Lagos-based startup, has emerged as a much-needed solution to address the financial underservice faced by small and medium enterprises (SMEs) in Africa. Led by founder and CEO Angel Onuoha-Onyekuru, Zuvy aims to provide accessible and affordable capital to African SMEs through its user-centric platform. The recent funding round of $4.5 million, led by TLG Capital, positions Zuvy to revolutionize invoice financing across Nigeria.
The funding round, led by TLG Capital, attracted diverse investors, including Next Chymia Consulting HK, Dunbar Capital, Vicus Ventures, and notable angel investors like David Mussafer, Chairman & Managing Director of Advent International. This capital infusion will cater to the increasing demand from vendors on the Zuvy platform and expand their loan book.
Angel Onuoha-Onyekuru, the CEO and co-founder of Zuvy, brings a strong background in finance, accounting, and entrepreneurship. He also heads Next Chymia Consulting HK, which participated in the funding round.
Angel passionately expressed the company’s mission and the recent funding round, emphasizing their dedication to facilitating access to liquidity for African SMEs. He believes credit availability is crucial for early-stage businesses and aims to be a leading provider of accessible and tailored credit solutions for Africa’s SME sector.
Aside from invoice financing, Zuvy offers free invoice management software, empowering businesses to instantly create, manage, and send invoices to customers. This software streamlines the invoicing process, enhancing efficiency and accuracy for SMEs. Additionally, Zuvy provides a WhatsApp Assistant, enabling users to generate, manage, and send invoices through the popular messaging app, offering convenience and accessibility to vendors and buyers.
In an official press release on July 3rd, 2023, Zuvy expressed its readiness to impact the financial inclusion of African SMEs substantially. With its user-centric platform, innovative software solutions, and significant funding, Zuvy is well-positioned to amplify invoice financing across Nigeria, providing SMEs with the necessary capital to thrive and contribute to the continent’s economic growth.
