Angolan Tech Startup Deya Secures Over $500 000 Funding

Entrepreneurship has been a topic with increasing prominence in recent years. But, to be able to raise the bar of an idea, project, or company, many entrepreneurs are limited by a lack of funds and it was this same problem that Luanda-based crowdfunding startup Deya promised to solve at the time of its launch in 2017. Practically 3 years later, Deya has secured its first round of pre-seed funding of over $500 000 from a group of local angel investors.

The funding will be utilised to improve the startup’s platform, scale up its existing business model with the overall outcome of boosting its revenue.  

In an official press statement, Vanda de Oliveira, CEO of Deya explains how the funding will be utilized. 

“I am thrilled about the success of this financing round, as it lasted for almost a year until we closed negotiations with investors on this round. This pre-seed financing is important because it will allow us to develop new intellectual property for the platform and expand Deya’s products offer so that its users (individuals and organizations) can get the most value possible, and thus enabling us greater exponential growth.” 

Deya

Deya is reportedly the first Angolan and PALOP (Portuguese-speaking African countries) crowdfunding platform and aims to increase access to financing for social impact causes and entrepreneurs. The platform acts as the middle-man between fundraisers and donors with a secure and transparent process and tech-based platform. 

According to the startup since its inception and official launch, the startup has raised around $22 000 for social impact projects. Currently, the startup operates in the donation and reward model but is working on implementing an equity model within the business. The implementation of the equity model will enable startups and SMEs to raise funding through collaborative financing. 

“The beauty of crowdfunding is the possibility for individuals, companies, and organizations to be able to raise funds without the intermediation of banks or other traditional financing institutions, and in this potential, we are working to become a reference platform in this sector for sub-Saharan Africa in the next five years. This funding is the first phase to reach this goal,” concludes de Oliveira.