South African fintech startup Scale, an issuer orchestration platform and payments tool, has raised US$700,000 in pre-seed funding to accelerate its expansion into Kenya, Ivory Coast and Zambia .
Founded last year by Miranda Perumal, Ladder specializes in issuing cards that help fintechs achieve their go-to-market and speed-to-revenue strategies, leveraging their expertise and innovative technology stack to accelerate onboarding and launches of products.
The startup’s US$700,000 pre-seed fundraising is led by prominent early-stage investors, 54 Collective (formerly Founders Factory Africa) and First Circle Capital, joined by Sunny Side Venture Partners and prominent investors angels in the sector.
Scale will use the new funding to accelerate its entry into the markets of Kenya, Ivory Coast and Zambia, where the company is set to establish operations. This comes after Scale previously secured banking, network and payment technology partners, positioning itself as a modern card issuance orchestrator and infrastructure-as-a-service (IaaS) enabler.
Perumal said she believed the investment was a testament to Scale’s value proposition and the company’s commitment to taking African fintechs to new heights.
“It’s not just what we do; it is anchored in the very fiber of our values. With the support of our esteemed investors and partners, we are well-positioned to accelerate our engagement with the ecosystem, build trust with African businesses and continue to focus strongly on solving key issues related to enabling the rails of cards by providing unparalleled world-class service,” she said. said.