African Fintech Bujeti Snags $2M Seed Boost to Revolutionize Business Spending

In the fast-paced world of African business, juggling finances often feels like herding cats across a dozen apps and spreadsheets. Enter Bujeti, a rising fintech star that's just locked in $2 million in seed funding to streamline it all.

Co-founded by Beninese entrepreneur Cossi Achille Arouko and Moroccan tech whiz Samy Chiba, Bujeti emerged from a simple frustration during Arouko's days at Paystack. What started as a personal finance tracker evolved into a powerhouse for small and medium enterprises, zeroing in on the B2B niche that's long been overlooked amid the consumer payment frenzy.

Launched in 2022 with backing from Y Combinator, the platform weaves together expense tracking, corporate cards, budgeting tools, and real-time analytics into one seamless hub. Businesses can issue cards to key team members, set ironclad spending rules, handle bulk payouts, and navigate multi-currency deals without breaking a sweat. "Companies everywhere wrestle with sloppy finance setups, but few tools tackle it head-on for businesses," Arouko noted. "Sure, there are neobanks for moving cash, but they stop short of true oversight."

This fresh capital, snapped up in a swift week-long raise led by YC, fuels Bujeti's next leap: a mobile superapp dropping later this month. It promises to pull in not just finance pros but every stakeholder, from vendors to frontline staff, for effortless collaboration. Onboarding is straightforward, kicking off with a quick sign-up, document upload, and compliance nod from regulators like Nigeria's Central Bank. Once in, teams add users, tweak permissions, and watch transactions flow with built-in safeguards.

Picture this: Upload your hefty policy PDF, and Bujeti's AI crunches it into enforceable rules on the spot. It spots double-billed invoices, flags overpriced suppliers, or even nudges you to ditch forgotten subscriptions before they bleed your budget dry. Every payout zips through automated approvals, syncing updates across vendor dashboards to kill those nagging follow-up emails. "Vendors see your payment trigger instantly, so no more chasing ghosts," Arouko explained.

Revenue rolls in via tiered subscriptions, starting at about $6.70 monthly for basics and doubling for pro features, with scalable add-ons for growing teams. Transaction cuts sweeten the pot, too.

Early adopters are already hooked. Seyi William-Ogunbiyi, COO at e-commerce player Selar, credits Bujeti with slashing the chaos of multi-bank logins and manual uploads. "Speed is everything for us, and Bujeti nails budgeting and reimbursements in bulk, way smoother than old-school internet banking," he shared. While Selar leans on separate payroll elsewhere, the platform's corporate card has simplified outflows. The upcoming app? "Game-changer for on-the-go access," he added.

Bujeti eyes rivals like Duplo, Kuda, and Flex Finance but carves its edge with deeper automation and analytics, embedding fiscal smarts right into daily ops. Currently handling naira, Kenyan shilling, and dollars, it's gearing up for Ghana, Benin, euros, and pounds, plus a North African push via Chiba's roots. Cross-border transfers round out the toolkit, easing pan-African trade.

Regulatory mazes and licensing hurdles slow the rollouts, but smart alliances with outfits like Nigeria's SMEDAN and Paystack keep momentum humming. Banks hold the funds; Bujeti handles the brains.

Arouko envisions Bujeti as Africa's go-to finance command center. "Five years from now, we'll be in the top three must-haves for any savvy operation on the continent." With this funding jolt, that vision feels closer than ever.