Saudi Arabia-based Nama Ventures invests in Nigerian startups, Messenger and Termii


Nama Ventures, a pre-seed  venture capital fund focused on fueling innovation in the MENA region, particularly in Saudi Arabia recently led a pre-Seed round for Nigeria’s logistics startup, Messenger, and participated in a $3.6 million round for Termii, a customer engagement solutions provider.Other investors who participated in Messenger’s round include Aidi Ventures and angel investors.

Nama Ventures prides itself on being an investment fund committed to nurturing ideas that guide founders to create exceptional companies.

According to the Venture firm, it has so far processed 700,000 deliveries for its clients such as Jumia Food, Omnibiz, DHL, Glovo and Shopex TV, with plans to acquire 100,000 new customers within the next 12 months.

Founded in 2018 by Amanda and Essein Etuk, Messenger looks to digitise the retail supply chain in Nigeria through its end-to-end logistics platform. 

Termii is a YCombinator (YC)-backed startup offering a communication platform-as-a-service (CPaaS) platform. Besides Nama, investors who partook in its recent round of financing include  Fintech Collective, Launch Africa Ventures Aidi Ventures, Ralicap Ventures, Now Venture Partners, Vastly Valuable Ventures, NOA Capital, Assembly Investors, Probability Ventures, Adamantium Fund, MyAsia VC, Uncovered Fund, and Afropreneur Angel Group. 

Termii started off initially in 2017 as a messaging product that makes it easier for businesses to engage with their users across diverse chat channels. The startup now operates as a one-stop shop for business communication services. 

Termii says it helped 9,000 fintechs communicate with their users. These include Moniepoint, Chipper Cash, and Piggyvest. 

Earlier in 2021, Termii raised a $1.4 million Seed round.