Just 14 days after raising $450 million for international expansion, Nomanini, the South African-based mobile Point of Sale platform announced that informal vendors and micro-entrepreneurs across Africa have made a million cash transactions using its tough terminal.
Nomanini enables cash transactions in emerging markets and is widely used for the distribution of mobile prepaid airtime and electricity utility payments, collection of insurance premiums among others using it’s mobile point of sale terminals.
Nomanini’s terminals are highly scalable, have a cloud-based backend enable enterprises to efficiently distribute prepaid vouchers and facilitate micropayments, while creating a sustainable income for entrepreneurs in informal markets.
In a statement, Vahid Monadjem, CEO and co-founder of Nomanini said, “We’re incredibly proud of the work we’re doing in these markets. We could not have achieved this milestone without our vendors in South Africa and partners across the rest of the continent.”
Nomanini was founded in 2010 and has has signed partnerships in Kenya, Nigeria, Zambia and Mozambique with active terminals processing close over one million transactions in those regions, including South Africa. It has received investments from Esther Dyson , Rockbridge Investments and two rounds of funding from the IDC.