Nomanini raises series-A funding from eVA fund and Esther DysonNomanini raised series-A funding from Netherlands based eVentures Africa Fund (eVA Fund) and Esther Dyson. The funds will enable Nomanini to roll out its proprietary, cloud-enabled system in South Africa and, with eVA Fund's established pan-African network, begin further pilots across Africa. By March, Nomanini will have facilitated over 1 million transactions in South Africa’s informal economy.
As the pioneering fintech platform for the informal retail ecosystem, Nomanini connects merchants and distributors to each other and global service providers, integrating payments, working capital, and data analytics to unlock the latent potential of Africa’s economy.
Nomanini turns any mobile device into a retail point-of-sale solution for informal merchants that is connected to an interoperable merchant wallet. The interoperable merchant wallet allows merchants to offer a broad range of digital banking (including cash-in/cash-out), mobile, utility and entertainment services to their customers boosting competitiveness. In turn, digital service providers rapidly increase the scale and reach of their offerings. By generating real-time insights based on transaction data, distributors using the platform gain a single view of their merchant network, ensuring inventory is where it is needed most to improve sales. Distributors can also begin to accept payments for goods electronically, eliminating the risk and inefficiency of collecting cash. With data analytics, Nomanini helps extend working capital loans to merchants via distributors allowing them to invest in inventory to grow their businesses. The increased volume of goods and services set against reduced operational friction increases the profits for all platform participants.
Headquartered in Cape Town and founded in 2011, Nomanini has partnered with Standard Bank Group.
For more information, please visit https://www.nomanini.com