Nigerian fintech Billboxx raises $1.6 million in pre-seed from Norrsken, 54 Collective
- Billboxx raised $1.6 million in pre-seed funding.
- Funding was sourced from Norrsken Accelerator, Kaleo Ventures, 54 Collective, P2Vest, and Afrinovation Ventures.
- The company aims to solve cash flow issues for SMEs with invoice financing.
Billboxx's approach to addressing cash flow challenges for SMEs is commendable, particularly in a market where such issues are prevalent. Their focus on tailored solutions for smaller businesses sets them apart from competitors, and their ambitious plans for expansion across Africa could significantly impact the fintech landscape. However, the requirement for enterprise customer approval before payment could be a potential bottleneck that needs addressing.
