Bujeti
Corporate cards and expense management for African businesses.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
* | $2.0m | Seed | |
| Total Funding | 000k | ||
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Bujeti provides a financial management platform tailored for businesses operating in Africa. Founded in 2021 by Cossi Achille Arouko and Samy Chiba, the Lagos-based company offers an integrated suite of tools to help businesses control spending and streamline financial operations.
The initial idea for Bujeti stemmed from Arouko's personal need for an expense tracking app, which later evolved into a B2B solution after identifying a broader market need among business founders for a comprehensive expense management system. Arouko, the CEO, has a background as an engineer with experience at Paystack, while COO Samy Chiba holds Master's degrees in Business Administration and focuses on compliance and operations. The concept was partly inspired by observing the efficiency of US-based financial management solutions like BILL Spend & Expense (formerly Divvy).
The platform enables businesses to issue physical and virtual corporate cards, manage expenses through budget limits and approval workflows, automate reimbursements, and process payroll. It targets a range of industries, including healthcare, logistics, agriculture, and construction. The system is designed to provide real-time visibility into company spending, automate accounting tasks, and facilitate both local and international payments. Bujeti's business model includes a freemium plan with limited features and tiered subscription plans for growing teams and enterprises.
The company participated in the Y Combinator Winter 2023 batch and has secured $2 million in a seed funding round in December 2023, led by Y Combinator. Other investors include Entrée Capital, Voltron Capital, and Dropbox co-founder Arash Ferdowsi. This funding is aimed at expanding its market presence and enhancing its product offerings, with plans to introduce credit lines for SMBs.
Keywords: expense management, corporate cards, financial management, African fintech, spend control, B2B payments, budgeting software, payroll automation, vendor management, reimbursement management, financial operations, corporate banking, startup finance, Lagos, Nigeria, Y Combinator, Cossi Achille Arouko, Samy Chiba, accounts payable, financial reporting, business finance