Finnish startup ZIROOPAY has raised 11.4 million dollars in the Series A funding round led by Lagos-based VC fund Zrosk Investment Management with the participation of its existing investors Nordic VC firm Inventure and other private and institutional funds including Fedha Capital and Exotix Advisory. Other investors include Stephane Kurgan, Petri Kivinen, Kurt Björklund, Jonas Dromberg, and Abiodun Ajai. Legos&Espoo-based company will be able to enhance its infrastracture and expand the team so that it can carry its POS solutions to more lands.
The company’s platform enables users to take payments even if the Internet connection is poor or non-existent. It automatically routes transaction through one of its pre-configured secure basic GSM channels. The POS systems transmit credit card data securely and enable vendors to proceed with the payment part without worrying about connection problems. Accordingly, this leads to an increase in sales and customer satisfaction. The fintech startup provides internet-free and easy-to-use POS terminals and simplifies the process of receiving payments, sales tracking, and inventory management for businesses in Nigeria.
About Zrosk Investment Management
Zrosk IM is an African investment management company with a core focus on alternative assets. We are purposeful about developing products that are the right fit for the markets we operate in ensuring we have a thorough understanding of the risk around it. They use our proprietary capital to de-risk; understand and unlock the niches they want to play in before opening it up to external partnerships. They are always experimenting but only offer strategies/products in areas where they believe they have strong confidence in achieving excess risk-adjusted returns.