Bujeti, an innovative expense management platform launched its beta solution for Nigerian start-ups and SMBs. After securing the support of international VCs, including Entrée Capital and D Global Capital, and local Business Angels. The company has built up a high-level team of fintech experts to support the booming of African companies. Bujeti is now offering Nigerian businesses an exclusive opportunity to become beta-users of its end-to-end business expense management platform.
Bujeti was initially founded in December 2021 by Achille Cossi Arouko as a personal finance platform to enable the planning, organizing, and tracking of funds sent by African immigrants to their families. During the development of the platform, Achille realised that the problems of budgeting, managing and tracking transactions were not only affecting the diaspora. In fact, expense management is a central issue for a majority of African businesses that do not have the capacity to accurately manage and track how their funds are used.
After having been involved in building several AI and fintech startups, and largely contributed to the growth of the Nigerian giant Paystack, the team decided to tackle these expense management issues.
“At the heart of Bujeti is the desire to bring transparency to financial transactions, to promote accountability and enable control,” says Achille. “We wanted the Black Tax to be less of a burden on the diaspora, and then realized that we would have even more impact by offering this solution directly to African businesses. We decided to pivot to a full-fledged B2B budgeting and expense management for the African market.”
Bujeti enables companies to manage all their expenses with a fully integrated, simple and intuitive suite of expense management tools. The platform offers the possibility to generate physical and virtual corporate cards on the go, pay by bank transfer directly from mobile app, automate and digitise reimbursement requests, set spending limits and get real-time insights into how funds are being used.
“The combination of the opportunity to solve a new kind of problem, to produce a high-end solution and the emotional attachment we have towards Africa is the driving force of our objective to give African businesses and SMBs the tools to make the lives of both employers and employees easier. This will definitely unlock new opportunities and potential for the growth of African businesses” Achille said.
To develop this solution, the startup secured the support of international VCs and local BAs which enabled them to build a team of top engineers, designers, product managers, marketers and salespeople from leading institutions and startups.
Bujeti’s ability to leverage the structuring of Africa’s financial infrastructure, to take advantage of a highly sought-after talent pool, and to comply with regulatory constraints has enabled the company to develop its product in a remarkably short time.
“We are passionate about Bujeti because they are solid builders. We love teams building high-end solutions, especially solutions for the African market. The continent is growing. Many companies are facing or will be facing new challenges that Bujeti solves”. **Says Olumide Soyombo, co-founder of Voltron Capital.
Along with supporting its beta-testing community, Bujeti will continue to develop tools to support the growth of African businesses. Bujeti aims to become the leading expense management platform in Africa by developing new innovative features and expanding across the continent.
To discover Bujeti and become an exclusive beta tester, visit Bujeti.com