Bujeti, an African corporate cards and spend management platform, has successfully raised $2 million in seed funding. The investment, led by Y Combinator, includes participation from other backers such as Entrée Capital, Voltron Capital, Unpopular VC, Kima Ventures, Arash Ferdowsi (Dropbox co-founder), Alan Rutledge, Tristan Walker of Heirloom VC, and Abdul Hassan (Mono CEO).
Bujeti focuses on assisting African businesses, including SMBs, startups, and enterprises, in managing their finances efficiently. The platform streamlines spending processes by facilitating the issuance of corporate cards to employees and contractors. It offers features like spending limits, restrictions, and approval flows tailored to various stakeholders in the business chain.
The recent funding will accelerate Bujeti’s growth, expand its market presence, and enhance its offerings. The company plans to introduce credit lines for SMBs and develop new products customized for enterprises in its upcoming features.
Founded in April 2022, Bujeti targets businesses in sectors like healthcare, logistics, agriculture, and construction. The platform originated from the concept of addressing the challenges businesses face in managing expenses and has evolved to provide comprehensive solutions for corporations.
Despite the competitive landscape in the African market, Bujeti differentiates itself by offering a combined solution of expense management and corporate cards. The platform’s commitment to innovation, automation features, and multi-entity management positions it as a valuable player in reshaping how businesses handle their finances across diverse industries and geographies.
Investors, including Abdul Hassan, recognize Bujeti’s potential to transform financial operations for businesses in the region and are excited to be part of the company’s journey.