Raising Capital in Africa: It’s Not Just About the Money

Meet Elo Umeh, Managing Director and CEO of Terragon Group, a Nigerian digital marketing and data insights company, and Andreata Muforo and Ido Sum from TLcom Capital, and learn how to make the most of your fundraising efforts to successfully grow your business in Africa.

Elo never intended to formally raise money—he initially relied on friends and family to launch Terragon. But as the business grew, so did his vision, and he needed to find an investor that understood the enormous opportunity in a rapidly growing sector. Since 2016, he’s led Terragon through two funding rounds: a $5 million series A round and a bridge round of $4 million. Now a leader in Africa’s data and marketing technology space, Terragon is currently raising another $16 million for its Series B. 

Elo shares his fundraising journey, explaining that it’s not just about the money, but who provides the capital is also key. He ended up working with Andreata Muforo and Ido Sum from TLcom, a venture capital firm with experience investing in tech-enabled businesses across Sub-Saharan Africa. Their relationship demonstrates how the right investors can help your business grow and actually enhance—not dampen—the quality of your decisions as a CEO.

Andreata and Ido of TLcom also share what they look for in a company and provide tips for how you can approach your next fundraising round.

Listen to Elo’s journey and Andreata and Ido’s insights to learn how to maximize the value of your firm’s next fundraising round.

Resources:

Terragon Group: https://terragongroup.com/ 

TLcom Capital: https://tlcomcapital.com/ 

Stanford Seed: http://stanfordseed.co/Grit

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