South Africa: Consumer rewards app raises seed funding
Maholla, a consumer rewards app, has concluded a $1.5 million seed funding round. The company raised a $580 000 pre-seed round in July of 2022, bringing its total funding to date to over $2 million dollars. Seed investors include the Buffet Group, Castleton Capital, Praesidium Capital Management and Galloprovincialis (which includes Mark Bowman, former managing director of SABMiller).
Maholla rewards users for scanning any receipt from any store. This allows users to always earn rewards irrespective of where they shop – from formal retailers to restaurants, wholesalers and informal traders. Rewards come in the form of instant airtime, 1Vouchers, in-app games and more.
The app links the shopping data of all receipts scanned, directly to the consumer, in order to build a granular understanding of the shopping habits of individual consumers in South Africa.
Maholla partners with CPG brands, restaurants and consumer research companies to provide them with a granular, real-time, understanding of what consumers are purchasing in South Africa today.