SlimTrader, an e-commerce solutions provider for businesses, has announced it has raised US$1million in a series A funding round.
SlimTrader will use the funds to expand its operations and reach into the hospitality sector through MoBiashara, its hosted and managed e-commerce and m-commerce platform.
Through MoBiashara, which means “more business” in Swahili, SlimTrader help businesses to sell their goods and services via multi-channel digital presence both online and mobile devices.
“We remain committed to our mission of unlocking the potential in African businesses. This funding puts more hotels a click away from their own free property management system, website booking engine, and channel manager; connecting them to multiple local and international online booking sites,” SlimTrader’s founder and CEO, Femi Akinde said in a press release.
He further said, “We see this as transformational to the sub-Saharan Africa hospitality industry.”
The investment was made by Interswitch Group through its e-payment Growth Fund, a US$10million fund launched earlier in the year to serve as a catalyst for funding innovation and disruptive businesses within the payment industry across Africa.
SlimTrader plans to expand its hotel offering into other African countries as it seeks to bridge the gap and connect hotels with their target audience.
SlimTrader, founded in 2009 and headquartered in the US, has since inception helped businesses in various sectors sell their goods and services via its solutions – MoBiashara for Airlines, MoBiashara for Hotels, MoBiashara for Fast Moving Consumer Goods (FMCG) Companies and MoBiashara for Small and Medium Enterprises (SMEs).
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