Talk360 has raised a $1.4 million (R22.3 million) secondary investment led by its long-standing investor Havaíc.
The transaction was also supported by Universum Wealth, a limited partner in Havaíc’s African Innovation Fund 3.
South African-founded global calling app Talk360 says the new investment will enable it to enter its next phase of product development and continue the build-out of Shop360 − a new feature that enables users to instantly send mobile airtime, data bundles and top-ups.
“As Talk360 consolidates its place as a leader in the African market and moves into the growth phase of its start-up journey, we are excited to further support management through greater shareholding and an ever-evolving relationship built on a common vision to solve real-world challenges in Africa and beyond,” says Ian Lessem, managing partner at Havaíc.
Founded in 2015, Talk360 has users in over 190 countries, with offices in SA, Nigeria, India and The Netherlands. The company says it reached more than six million users globally last year.
Since raising over $10 million from venture capital and angel investors in 2022, Talk360 has spun off its payments unit into a separate entity, NjiaPay, and repositioned its offering following the discontinuation of Skype’s international calling services.
Talk360 notes it has reached profitability. The transaction has also enabled some early angel investors, who backed the company from 2016, to realise partial liquidity, while retaining shareholding in the business.
“We are grateful for the continued conviction and support of Havaíc and Universum Wealth as we enter the next phase of our journey,” comments Hans Osnabrugge, CEO of Talk360.
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