Payments app provider Dash has secured $32.8m in a seed funding round headed by Insight Venture Partners.
The round also saw participation from Global Founders Capital, ASK Capital, 4DX Ventures and Zinal Growth Partners. Individual investors included Pine Labs CEO Amrish Rau, Jitendra Gupta of Jupiter Money and the founders of Moss, executives from ProcessOut and the founders of PennyLane.
Founded in 2019, New York-headquartered Dash claims it is building an accessible, modern and unified alternative payment network for African consumers. The firm is currently operating in Kenya, Ghana and Nigeria.
Users of Dash can send and spend as well as receive money – regardless of currency – and pay for goods and services, save and invest all through the app.
In January 2022 alone, Dash secured a total processed volume of over $300m, which was up 3x on a monthly basis from the fourth quarter of 2021.
According to Dash, it intends to use the money to launch new features and expand its footprint across key markets in Africa.