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HomeFunding RoundsSenegalese retail-tech startup ProXalys raises $500k funding round.

Senegalese retail-tech startup ProXalys raises $500k funding round.

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Senegalese retail-tech startup ProXalys raises $500k funding round. Senegalese startup ProXalys, which specializes in digital transformation in B2B commerce, has raised a US$500,000 funding round to help it scale.

The startup specializes in providing digital credit to self-employed individuals, micro-enterprises (VSEs), and small to medium-sized enterprises (SMEs), with a particular emphasis on targeting women and young people who are often marginalized within the traditional banking system.

The Senegalese startup was founded in 2021 by Thierno Sakho. ProXalys intends to modernize and empower Senegal’s informal traders by digitizing the entire value chain and revolutionizing supply chain processes.

The startup has now expanded its operations to Tunisia and has raised a US$500,000 funding round, led by 216 Capital, a Tunisia-based seed fund. It also showcases Haskè Ventures and Digital Africa through its FUZE program.

See Also: SA’s OfferZen has successfully closed a US$4.3 million funding round from top-tier investors.

ProXalys Growth Plans

The startup will use the funding to speed up the go-to-market of its new product, ProBoutik, and strengthen its data and AI teams in Tunisia and Senegal. Hassen Arfaoui, principal investment manager at 216 Capital, highlighted ProBoutiK’s important contribution to digitalization and financial insertion in Africa’s informal retail sector.

“The collaboration reflects a shared belief in the necessity of financial inclusion and digital transformation to drive sustainable economic development in the region,” he said.

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