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Venture Capital
central.ly/sherpaventures

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Investments

3

Funds

1

Service Providers

1

About Sherpa Ventures

The firm aims to invest in technology and innovation oriented companies.

Sherpa Ventures Headquarter Location

Van-der-Smissen-Strasse 4

Hamburg, 22767,

Germany

49 40 317 66 36 6

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Research containing Sherpa Ventures

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CB Insights Intelligence Analysts have mentioned Sherpa Ventures in 1 CB Insights research brief, most recently on Jul 28, 2022.

Latest Sherpa Ventures News

Kenya’s CashBackApp raises $475k in pre-seed round to scale its services and drive expansion

Aug 24, 2021

13 seconds ago Kenyan e-commerce startup, CashBackApp has raised $475,000 in pre-seed funding round to scale its services in Kenya and also to prepare for expansion into neighbouring countries. Investors that contributed to the round include Lofty Inc, Sherpa Ventures and Loyal VC, while the round also had participation from several angel investors based in the US, UK, Nigeria and Kenya. Founded in 2019 by Simon Ngigi, and later joined by Allan Thiga, CashBackApp helps fast-moving consumer goods (FMCG) companies to build loyalty amongst customers by allowing them to earn cashback rewards on their everyday shopping through Kenya’s biggest mobile money company, M-Pesa. When people purchase products whose promotions are featured on the app from supermarkets, they receive CashBack rewards. The startup has achieved significant traction after 2 years in operation. It currently has 45,000 downloads on app stores after its user base grew at a monthly compounded rate of 38 per cent in the first half of 2021. On the Business-to-Business (B2B) side, CashBackApp has signed up major international FMCGs as customers, including Coca-Cola, Colgate and Ajab. Also, its retailer network consists of eight of the largest multi-chain retailers in Kenya including Khetias, Eastmatt, Mulleys and Jamaa. With this latest investment, the startup hopes to scale its Kenyan operations while preparing for expansion to neighbouring countries. CashBackApp plans to reach more than one million shoppers by December 2022. Speaking on the investment, Managing Partner of LoftyInc Capital Management, Idris Ayodeji Bello, said the company is excited to invest in the CashBackApp team as they are solving the problem of reducing the ever-increasing food and shopping budget that affects most middle to low-income households in Africa. “Apart from helping consumers save money, they are also helping FMCGs understand their markets and customers better through quality data and actionable insights. This is in line with our investment thesis of backing world‐class teams of local Africans who are leveraging innovation to solve significant problems.” Idris Ayodeji Bello Kenyan startups have continued to pull their weight on the funding landscape of the African tech space . While they haven’t quite measured up with their Nigerian and South African counterparts who pulled in 56% of total funding into Africa in H1 2020, they have nonetheless attracted their fair share. One of the three biggest African fundraisings in 2021 includes an $85 million funding into Kenyan AI-Powered insights company, Gro Intelligence. Nigeria’s Flutterwave ($170 million) and South Africa’s TymeBank ($109 million) make up the top 3. If you’d like to get featured on our Entrepreneur Spotlight, click  here  to share your startup story with us. SUBSCRIBE Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.

Sherpa Ventures Investments

3 Investments

Sherpa Ventures has made 3 investments. Their latest investment was in PayHippo as part of their Seed VC on July 7, 2021.

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Sherpa Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/2/2021

Seed VC

PayHippo

$1M

Yes

9

12/16/2020

Seed VC

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$99M

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10

12/16/2020

Seed VC

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$99M

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10

Date

7/2/2021

12/16/2020

12/16/2020

Round

Seed VC

Seed VC

Seed VC

Company

PayHippo

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Amount

$1M

$99M

$99M

New?

Yes

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Co-Investors

Sources

9

10

10

Sherpa Ventures Fund History

1 Fund History

Sherpa Ventures has 1 fund, including Basecamp Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/1/2020

Basecamp Fund

$1M

1

Closing Date

12/1/2020

Fund

Basecamp Fund

Fund Type

Status

Amount

$1M

Sources

1

Sherpa Ventures Service Providers

1 Service Provider

Sherpa Ventures has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

Sherpa Ventures Team

1 Team Member

Sherpa Ventures has 1 team member, including current Managing Director, Toralf Feuchtenhofer.

Name

Work History

Title

Status

Toralf Feuchtenhofer

Managing Director

Current

Name

Toralf Feuchtenhofer

Work History

Title

Managing Director

Status

Current

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