Billboxx
Overview
Billboxx is a financial technology company specializing in cash flow management and billing solutions for small and medium-sized enterprises (SMEs) primarily in Africa. The company was founded in 2023 by Justus Obaoye and Abdulazeez Ogunjobi, who are serial entrepreneurs. Billboxx is headquartered in New York, United States. The company has raised a total of $1.73 million in funding, with significant contributions from investors such as the Norrsken Accelerator, Kaleo Ventures, and 54 Collective.
Recent Developments
- December 2024: Billboxx announced a successful pre-seed funding round, raising $1.6 million. The funding, a combination of equity and debt, was led by Norrsken Accelerator and included participation from Kaleo Ventures, Founders Factory Africa, P2Vest, and Afrinovation Ventures. This financial backing is intended to enhance Billboxx's platform to tackle cash flow challenges faced by SMEs in Africa.
- May 2024: Billboxx completed another funding round, further solidifying its financial foundation. The company has focused on expanding its impact by developing integrations with prominent African payment gateways and commercial banks.
- April 2024: A significant update to Billboxx's platform was made, featuring interconnectedness and integration with Providus Bank, enhancing transaction syncing and payment processes.
- 2023: Billboxx facilitated over $4 million in invoice payments by launching its minimum viable product (MVP). The service promises to improve billing processes and reduce inefficiencies from manual invoicing.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2023 |
| Headquarters | New York, NY, United States |
| Founders | Justus Obaoye, Abdulazeez Ogunjobi |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | 54 Collective, Afrinovation Ventures, Kaleo Ventures, P2Vest, Norrsken Accelerator |
| Industry | Financial Services, Financial Software |
| Number of Employees | 10 |
Early History
Billboxx was conceptualized and co-founded by Justus Obaoye and Abdulazeez Ogunjobi in 2023, following their experience in founding and scaling other startups like Charistouch (Carido) and Fixit45. They aimed to address the cumbersome nature of manual invoicing and cash flow management issues, a common hurdle for SMEs in Africa. By leveraging technology, they created an integrated billing-to-payment platform that reduced inefficiencies and improved cash flow resilience for businesses.
Company Profile and Achievements
Billboxx employs a software-as-a-service (SaaS) model to deliver automated billing solutions that help businesses manage finances more efficiently. The platform integrates with banks and payment gateways to ensure seamless transactions, offering features such as invoice digitization, secure payment facilitation, and cash flow financing. Notable achievements include:
- Facilitating over $4 million in invoice payments.
- Building strategic partnerships with financial institutions and commercial banks.
- Launching the Providus Bank integration to streamline financial management tasks.
Current Operations and Market Position
Billboxx continues to grow its presence in the fintech industry by enhancing its platform's capabilities and expanding its user base across Africa. The startup aims to become the financial operating system for African SMEs, focusing on cash flow management, billing solutions, and integrated financial services. By addressing a critical pain point—delayed payments—the company enables SMEs to focus on their core business while maintaining financial resilience.
Conclusion
Billboxx has made significant strides in the fintech industry by addressing the vital need for improved cashflow solutions for SMEs in Africa. With continued investment and strategic partnerships, Billboxx is well-positioned to expand its reach and develop innovative solutions that support efficient financial management for small businesses. The company's vision to become Africa's quintessential financial operating system for SMEs remains a guiding force as it scales operations and enhances service offerings.