Viamo secures growth investment led by VestedWorld
VestedWorld, an Africa-focused venture capital firm, announced an investment into Viamo, an emerging-markets mobile engagement and information platform. VestedWorld is partnering with Viamo to further increase the company’s geographic reach and expand its product suite.
Despite increased internet penetration over the past decade, over half of the world’s population remains disconnected from the digital economy due to poor infrastructure, language barriers, cost of internet connections, low literacy rates and expensive hardware requirements. Viamo brings 30 million end users in 26 countries into this digital economy via the simple mobile phones in their pockets, by providing them with timely information that addresses their healthcare, agriculture, education, financial services, news, and entertainment needs, and allows them to connect with relevant organisations in these areas.
Viamo successfully developed the 3-2-1 Service, a multilayer solution, leveraging software, content, data, and partnerships with mobile network operators. Users dial into Viamo’s country-specific toll-free number to access relevant, credible and actionable information on demand using a mobile device of their choice.
The company also provides remote training, data collection, and targeted mass messaging services.
Viamo’s in-country technology infrastructure can be used to reach any mobile subscriber and to run interactive and measurable mobile engagement campaigns. With this investment, Viamo will enhance and expand its offerings to its development and private-sector partners to create even greater value.
“We thank VestedWorld for this vote of confidence,” said David McAfee, CEO of Viamo. “We’re incredibly excited to use this investment to bring more underserved people into the digital economy. Jeff and his team have added significant value to Viamo already, in the form of strategic advice and we look forward to working closely with them as we identify like-minded investors to close out our fundraising round.” VestedWorld has experience investing in early-stage, technology-enabled businesses across Africa, including investments in Vanu, Sendy, Kasha and DrugStoc.
“Viamo’s multi-country, multi-sector, multi-channel, and multi-layer offering has made the company a clear leader in mobile engagement for under-connected populations,” said Jeffrey Stine, managing director of VestedWorld. “We look forward to a long partnership focused on building a truly global platform that delivers life-enriching access to the digital economy to people across Africa, Asia, the Middle East and Latin America.”
StratLink Advisory Group served as the sell-side advisor for the transaction.
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