Today, a new startup is emerging from stealth with USD 4.5 M to provide invoice financing for SMEs in Africa. TLG Capital led Zuvy’s funding, which is split between debt USD 4 M and equity USD 580 K, with other VCs and angel investors joining the round. The debt will be used to expand its loan book to meet growing demand from vendors in Nigeria.
Founded in 2021 and currently operating out of Nigeria, Zuvy provides invoice discounting and an invoice management tool for its customers. Zuvy targets businesses in the FMCG, healthcare, and supply chain industries where payment delays are common. To access Zuvy’s invoice financing, businesses provide an invoice for the service they’ve rendered, and Zuvy provides them with cash.
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