If you’ve ever anxiously waited for that all-important OTP text message when making payments through popular fintech gateways like Paystack, then you’ve witnessed Termii in action. Founded in 2017 by Emmanuel Gbolade, Ayomide Awe, and Atinuke Idowu, Termii recognized the crucial need for African businesses to have exceptional communication channels.
Termii is not just your average communications platform—it’s a game-changer. As a cutting-edge communications platform-as-a-service (CPaaS) startup, Termii enables businesses, especially fintechs, to engage customers through a diverse range of channels. From SMS and voice messaging to mobile tokens, alerts, and a dynamic two-way support system, Termii has got it all. Originally offering digital marketing support to digital and fintech companies, Termii’s transformation began with a rebranding in 2017. With the support of Transsion-backed incubator Future Hub, early-stage VC firm Microtraction, and a spot in the prestigious US-based accelerator Y Combinator, Termii propelled itself to new heights.
Embracing a pivot, Termii focused on creating a multichannel communication platform tailored specifically for African companies. Today, they boast over 10,000 customers, with an impressive 89% of them being fintechs. It’s no surprise that Termii’s annual revenue skyrocketed by a staggering 30x in 2021, with message transactions on their platform soaring from one million to a mind-boggling 400 million. This remarkable growth led to $1.4 million in seed funding and, more recently, a funding round led by Africa-focused VC firm Ventures Platform, securing a whopping $3.65 million.
But behind these incredible achievements lie the visionary minds of the three co-founders: Emmanuel Gbolade, Ayomide Awe, and Atinuke Idowu. Emmanuel, Termii’s Co-Founder and CEO, began his journey as a software programmer and digital marketing consultant. Driven by a passion for creating platforms using developer tools, Emmanuel started Termii with just N250,000 in 2014. Since then, he has raised an impressive $2 million from angel investors, propelling Termii to the forefront of business communication in Africa.
Ayomide Awe, Co-Founder and CTO of Termii, brings invaluable technical expertise to the team. Atinuke Idowu, the co-founder and COO, holds a degree in Economics from the University of Lagos, lending her strategic insights to the company’s operations.
The global CPaaS market is expected to reach a staggering $34.75 billion by 2026, growing at a remarkable CAGR of 38%. In Africa, this market is still taking shape, with Termii, Africa’s Talking, Beem, and SendChamp leading the way.
Healthcap Africa is thrilled to be an investor in Termii’s, as it aligns with our fund’s objective of increasing access to financial services for more Africans and promoting Africa’s integration into the global financial system.