In the hyper-connected world we live in, it is possible to connect to people and services all over the world digitally. However, there are reports that over 41% of the world misses out on reliable internet connectivity, mostly the underserved communities. This is what Amsterdam-based Talk360 intends to resolve. The international calling app helps make reliable and affordable calls to any landline or mobile phone worldwide.
Totals $7M funding
In a recent development, Talk360 has closed an additional $3 million in seed funding. This follows the $4 million seed funding the company secured back in May 2022 and brings the total seed investment raised by the company to $7 million.
The latest investment came from new VCs such as Kalon Venture Partners, E4E Africa, Allan Gray E2 Ventures (AGEV), Endeavor (which invested in iPronics and Casavo), and HAVAÍC, and angel investors in the form of the founders of TymeBank, one of Africa’s fastest growing neo-banks.
The funds will help the company grow its market share in South Africa, drive its growth in the rest of the continent and launch its market first pan-African payment platform in 2023. The new platform will allow users across the continent to buy products and services using any currency and more than 160 payment methods. It will also be opened to other merchants.
“Our mission is to bridge distance and connect lives by offering reliable, affordable, and easy-to-use digital services, delivered in a localised manner to all communities, particularly emerging countries, so they can connect to the world,” said Hiine. “But we’re not just solving socio-economic issues: we’re also offering micro-entrepreneurship and income generating opportunities to our growing network of agents across the country.”
Clive Butkow, the CEO of Kalon, said the Talk360 team had ‘a wealth of experience’ in the communications space in South Africa and across the continent. “We’re excited to add this investment to the Kalon portfolio, and believe it has the potential to rapidly scale across Africa,” he said.
Ian Lessem, managing partner at HAVAÍC, said the fact the initial seed round target was oversubscribed is a testament to Talk360’s remarkable traction to date and growth potential. “We invested more into Talk360 based on its strong progress in the South African market to date, as well as its potential in the rest of Africa. Since our first investment, the company has shown spectacular growth, and a genuine ability to crack the challenge of distribution in Africa. We’ve seen the company convert users to paying customers by offering them relevant services, and making this accessible in an easy, affordable, reliable, and trustworthy way,” said Lessem.
What issue does Talk360 tackle?
Founded in 2016 by South African venture builder Dean Heine, and Dutch entrepreneurs Hans Osnabrugge and Jorne Schamp, Talk360 aims to fix the connectivity issue of apps that rely heavily on an internet connection. The company’s app can be used to place international calls on any mobile phone or landline worldwide and works even if the receiver doesn’t have an internet connection.
Talk360 thinks that everyone, irrespective of background, should be able to purchase and access dependable communications and digital services. Particularly those in developing nations like Africa, who frequently require these services the most.
In the past year, Talk360 has seen 167% growth in customers and 130% revenue growth and has nearly doubled the number of calling minutes to and from South Africa, on the back of what it calls a ‘significantly improved’ distribution network.
