Spacepointe raises funds from multiple investors, launches business solutions for SMBs


SpacePointe, a Nigerian fintech startup, has announced it has raised US$1.2 million in a seed funding round from multiple investors.

On the back of this, the company has launched two business solutions for small and medium businesses in the Nigerian market.

One of the business solution is CommercePointe, which enables businesses in the informal sector in emerging markets to service the omni-channel consumer.

It has integrated the in-store business management and Point of Sale app with a marketplace platform running off the same inventory.

PointePay, a mobile POS app that allows businesses to easily sell to their customers no matter their location, is the other business solution.

The app has other features: It works with leading payment providers to provide businesses with multiple options of receiving payments from customers, allows businesess manage its inventory across multiple stores, et al.

At the moment, over two thousand retailers are currently using the solution to run their businesses.

“With PointePay, MSMEs are able to showcase and sell their products online. They are also able to sell their products in-store using multiple types of payments,” Spacepointe stated in a press release.

The FinTech company will launch these products in South Africa, Uganda, Zambia and Tanzania before the year runs out.

Founded in 2014, the company has won multiple awards since the 2014 DEMO Africa win of the top-five technology startups in Africa.

Recent wins include the West African Mobile Award in the Retail and Commerce Category and the latest CBN Cashless Card Award of the 2016 Best Cashless Merchant.

The company has offices in Lagos, Nigeria and Atlanta, US.

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