Tizeti said it will use the investment to expand operations outside of Nigeria and will launch a new consumer-facing brand Wifi.Africa later this year.
Nigerian ISP start-up, Tizeti, and its consumer-facing brand, Wifi.com.ng, has raised $3 million in Series A round led by 4DX Ventures to expands its unlimited internet service to other African markets, starting with Ghana.
The funding also includes the participation of existing investors such as Y Combinator Continuity, Lynett Capital, Social Capital, Western Technology Investment, Friále and Golden Palm Investments.
Tizeti said it will use the investment to expand operations outside of Nigeria and will launch a new consumer-facing brand Wifi.Africa later this year, starting with the neighbouring West African country, Ghana.
“The company will also make additional investments in operations, product development and overall customer experience, with a view toward growing profitability exponentially.”
Kendall Ananyi, the CEO of Tizeti speaks about the Series A funding
Kendall Ananyi, CEO and Co-Founder of Tizeti says, “Tizeti was built to tackle poor internet connectivity not only in Nigeria but on the continent as a whole, by developing a cost-effective solution from inception to delivery, for reliable and uncapped internet access for potentially millions of Africans.
“… This Series A investment allows us to continue providing a peerless service in Nigeria, building out our customer base there, as well as scale across Africa, starting with Ghana”.
Walter Baddoo joins Tizeti’s Board of Directors
As part of the financing round, Walter Baddoo Co-Founder & Managing Partner of 4DX Ventures joins Tizeti’s Board of Directors.
Baddoo says "Tizeti makes it easier and cheaper to connect Africa to the global digital economy and we are excited to partner with Kendall and his team on this mission.”
In June 2017, Tizeti also raised $2.1 million.
The company which operates as a “Comcast for Africa”, builds and operates solar-powered towers in Nigeria, while also providing residences, businesses, events and conferences with unlimited high-speed broadband internet access, covering over 70% of Lagos.
Tizeti has installed over 7,000 public Wifi hotspots within Nigeria with 150,000 users and in November 2017, announced a partnership with Facebook to offer Express Wi-Fi in the country, to roll out hundreds of internet hotspots across Nigeria’s capital.
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