Talk360 is a leading South African and Dutch calling app that enables affordable international calls, has raised a $1.4 million (27 million Rand) in pre-series A funding. The round was led by its long-standing investor Havaic.
This capital injection will drive the company’s goal of connecting seven million people by 2025 while strengthening its journey towards long-term profitability.
“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.
The South African and Dutch calling app enables affordable international calls, requiring only the initiator to have the app and internet connectivity to reach any number globally. In 2022, Talk360 raised $7 million through two seed funding rounds, attracting investments from African venture capitalists and fintech angels across Europe and South Africa, including executives from Adyen and Mollie, as well as the founders of Tyme Bank.
Talk360 has been developing an in-house payment platform, which has shown promising results with an average 25% increase in payment conversion. The company is considering opening this platform to external merchants before the end of 2024.
This payment platform has been exclusively used in-house to establish a strong foundation. The results “have been exceptional, with an average 25% increase in payment conversion. We are strongly considering opening the platform to external merchants before Christmas 2024.” says Hans Osnabrugge, co-founder and CEO of Talk360
With the new funding, Talk360 plans to localize into more African languages and establish more partnerships with remittance companies, retailers, and brands. The company aims to support languages such as Amharic and Portuguese, addressing the demand from Ethiopian customers and demonstrating its commitment to localization.
