Talk360, an Amsterdam-based international calling app, announced a successful pre-Series A funding round, raising $1.4 million (approximately €1.27 million). The funding is set to support the company’s growth plans, aiming to expand its reach to seven million users and achieve profitability. Alongside its expansion, Talk360 plans to introduce a payment aggregator designed to streamline transactions in Africa, addressing issues faced by the fragmented payment infrastructure. The company maintains a $30+ million valuation, demonstrating investor confidence in its innovative approach.
Historically, Talk360 has attracted significant investment support, securing $7 million in seed funding in 2022 from a diverse pool of investors across Africa and Europe. Notable contributors included executives from Adyen and Mollie, and the founders of Tyme Bank. This previous funding facilitated the company’s growth from 2.3 million users to 4 million users over two years. Talk360’s continued ability to attract investor interest highlights its robust business model and potential for further market penetration. Compared to past funding rounds, the current pre-Series A round marks a strategic step towards achieving profitability and expanding its service offerings.
Expanding User Base and Payment Solutions
Talk360 is focused on expanding its user base among the African diaspora in key regions such as the UK, US, and South Africa. The company also aims to address transaction challenges by exploring the creation of a payment aggregator. This initiative seeks to streamline payment processes in Africa, a region characterized by a fragmented market.
“We’re incredibly proud of Talk360’s growth. Over the past two years, we’ve gone from connecting 2.3 million users to 4 million in 2023. This funding will help us continue our mission of connecting African migrant communities with their families back home,”
said Hans Osnabrugge, Co-founder and CEO of Talk360.
Enhancing Communication Accessibility
Talk360 is committed to providing affordable international calls to any mobile or landline worldwide. The company plans to launch the world’s first single checkout platform for Africa, integrating local payment methods and currencies. This platform aims to serve over 500 million African consumers, enhancing access to digital services. With operations in South Africa, Nigeria, India, and the Netherlands, Talk360 is focused on bridging distances globally.
“This payment platform has been exclusively used in-house to establish a strong foundation. The results have been exceptional, with an average 25 per cent increase in payment conversion. We are strongly considering opening the platform to external merchants before Christmas 2024,”
stated Osnabrugge.
In the wake of the recent funding, Talk360 plans to expand its services by localizing into more African languages, supporting the diverse needs of its user base. The company aims to establish partnerships with remittance companies, retailers, and brands to further enhance its offerings.
“A better understanding of our audiences will also see the upcoming releases supporting languages such as Amharic and Portuguese. This talks to the significant demand of our Ethiopian customers and highlights our willingness to localize our solution where needed,”
said Dean Hiine, Co-founder and MD Africa at Talk360.
The recent investment in Talk360 is a testament to the company’s strategic vision and ability to navigate challenging economic conditions. The funding enables Talk360 to deepen its impact, particularly in underserved African communities. By focusing on localizing its services and enhancing its infrastructure, Talk360 is well-positioned to provide tailored communication solutions that resonate with its users. The company’s strategic focus on the African market highlights its commitment to addressing the unique challenges and opportunities within the region, potentially setting a precedent for other tech companies in similar markets.
