Nigerian fintech startup Bujeti has successfully raised $2 million in seed funding to propel its comprehensive corporate card issuance and expense management platform to new heights.
The funding round was spearheaded by Y Combinator, featuring contributions from notable investors such as Alan Rutledge, Heirloom VC, Tristan Walker, Entrée Capital, Voltron Capital, Unpopular VC, Kima Ventures, Mono CEO Abdul Hassan, and Arash Ferdowsi, co-founder of Dropbox.
Established in 2022 by Cossi Achille Arouko (CEO), and Samy Chiba (COO), Bujeti has a mission to empower African businesses across the spectrum, catering to small and medium-sized enterprises (SMBs), large corporations, and startups, facilitating more effective financial management.
Bujeti’s platform offers businesses a seamless and fully integrated solution for expense management and the issuance of corporate cards to their workforce. The platform’s focus spans various industries, including logistics, healthcare, agriculture, and construction.
One of its key features is the streamlining of spending processes by overseeing the issuance of corporate cards to employees and contractors. This capability allows businesses to establish spending limits, restrictions, and approval flows tailored to different stakeholders.
All new users enjoy a complimentary 3-month access period with unrestricted use of all features upon signup. This encompasses exclusive entry to the customer support Slack Channel, early availability of upcoming features, prioritized consideration for feature requests, cross-communication advantages, and an exclusive referral package
After the expiry of the free period, users can choose any of the three Bujeti’s subscription plans, each tailored to meet their specific business needs. Here are the available plans:
- Start Plan: is ideal for small teams of up to 5 members, providing access to essential features at no subscription cost, with free deposits and a standard N25 fee for outward payments.
- Growth Plan: is tailored for growing businesses, offering expanded capabilities, free deposits. and custom roles for team management. The monthly cost is ₦25,000 (or ₦250,000/year). There is a standard N25 fee for outward payments.
- Scale Plan: provides unlimited access and customisation for larger enterprises with extensive financial management requirements. The standard N25 fee for outward payments, still applies.
Bujeti is also in the process of developing a multi-currency feature, a strategic move to accommodate businesses operating in diverse countries. With this expansion, combined with the recent injection of funds, Bujeti is poised to emerge as a leading provider of corporate card and expense management solutions across the African continent.