LittleFish, a South African fintech, has raised a new seed round led by pan-African venture capital firm, TLCom, with participation from Flourish Ventures.
According to TLCom, LittleFish is playing a pivotal role in simplifying online trading for SMEs, addressing challenges like technical literacy and complex market entry barriers.
SMEs often struggle to access tailored financial services, and banks offer untailored solutions that largely fail to cater to their specific needs. Littlefish aims to help banks meet the needs of this segment with a comprehensive digital and technology platform that allows a bank’s customer to streamline financial operations, boost sales, secure credit access, and access digital payment processing services.
The company’s platform connects SMEs to customers, wholesalers, and financial service providers. Designed for how small business owners work, the platform addresses multiple aspects of business operations, across digital advertising, sales, business management and customer engagement, provided as separate modules or a holistic bundle.
The round marks TLcom Capital’s first investment in South Africa with the investors impressed by the courage and experience of the founders.
“Firstly, Brandon’s courage and ambition to leave a corporate job in enterprise software to start a high-growth technology venture early in his career.
Secondly, the team has a deep understanding of the fintech industry. Their vision to empower banks to counter the rise of fintechs by more efficiently acquiring and better servicing small and medium-sized companies was clear from day one,” the firm said.
“Finally, Littlefish’s partnership with VISA is significant because it gives the company a major competitive edge by enabling it to launch with solid tie-ins with VISA’s partner banks. VISA has clearly also seen the massive value in the company’s mission and product.”
The startup wants to expand its operations across the continent, while TLCom sees an opportunity for global expansion of the business.
“We find Littlefish’s thesis of enabling banks to respond to competition from fintechs in serving the SME segment compelling.
We also see an opportunity for the company’s model to travel beyond Africa, once scale has been achieved here, to serve similar needs in developing economies in the Global South.”
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