Kenyan fintech startup raises a $16.7m seed round in 4 years

KENYA – Kenyan fintech startup Zagace has quietly raised a US$16.7 million seed round since 2016 as it plans to expand globally. Founded in 2013 by Mubarak Muyika in Kenya, Zagace provides software packages composed of accounting, bookkeeping, payroll, sales, marketing, stock management and storage. Targeting micro-businesses with 10 employees or less, Zagace’s core product – the Zagace Web Platform has grown into an application store with distribution of products mainly through product APIs, a digital distribution platform and development platform. As of December 2019, the startup had over 1.5…

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