Chpter, an AI-powered conversational commerce platform that enables businesses to sell more on social media platforms such as WhatsApp and Instagram has raised funding from Renew Capital to help more businesses sell more on social media.
Chpter recently raised $1.2 million in their Pre-Seed round to accelerate product development of its conversational commerce offering, expand its product availability across more countries in Sub-Saharan Africa, and enhance its sales and marketing efforts on the back of growing demand from leading brands.
Founded in 2022, Chpter enables faster and simpler social commerce through automated conversations, marketing and aggregated payments. This helps businesses to increase sales and manage customer interactions more efficiently. With this new funding, Chpter will speed up product development, expand its presence in sub-Saharan Africa and boost its sales and marketing.
“At Chpter, we’re dedicated to transforming the way businesses interact with their customers on social media,” said Tesh Mbaabu, Co-Founder and CEO of Chpter. “We look forward to working with Renew Capital to accelerate our growth and further our mission of empowering businesses to elevate their social commerce strategies and take advantage of social media.”
Chpter’s platform is already in use in Kenya and South Africa, serving industries such as retail, financial services and education. The company plans to expand into new markets, including Nigeria, Ghana, Egypt and Morocco.
“As one of the investors in the consortium, Renew Capital is proud to support Chpter’s innovative approach to social commerce,” said Esther Mwikali, Senior Investment Manager at Renew Capital. “Chpter’s technology solves key problems for African businesses, like shopping cart abandonment and scattered customer interactions. Chpter is ready to drive growth and change the social commerce landscape by making engagement on platforms like WhatsApp and Instagram more effective.”
Renew Capital is committed to backing growth-oriented founders who possess a blend of skill, grit and passion. Entrepreneurs seeking financing for asset-light, tech-enabled businesses should check out the Renew Venture Lab and apply.