mSurvey: Supporting an innovative Kenyan start-up specialized in consumer opinions
Kenya
mSurvey allows African companies, universities, hospitals and media to directly question African citizens and consumers about their habits or needs via their mobile phone. By investing in mSurvey, PROPARCO is supporting the development of an innovative digital start-up offering a range of services tailored to the African context which did not exist before.
Client presentation
mSurvey, a Kenyan start-up created in 2012, is specialized in the real-time monitoring of consumer opinions. mSurvey currently offers two services:
- Voice of the Customer (VOC): a management tool which allows companies to measure and monitor customer satisfaction in real time in the various interaction channels and
- Audience on Demand (AOD): a text messaging survey service which allows companies to obtain information in real time based on exchanges with a panel of African consumers.
These services meet strong demand from companies to know their customers better and fill a gap in the African market, as up until now, no company had created a range of services tailored to the context of the continent.
Project description
Proparco has invested alongside the TIDE Africa fund in the context of a Series A fundraising. This investment aims to support mSurvey’s growth and its transformation into a pan-African player. Indeed, mSurvey is seeking to develop its services further afield than West Africa (launch in Nigeria and Ghana, for example) and to forge new partnerships. The Series A investors also intend to strengthen the company’s governance and sound management.
This project is part of the 2X Challenge initiative. This multi-stakeholder initiative aims to support projects that empower women as entrepreneurs, business leaders, employees and consumers of products and services, and increase their participation in the economy.
This initiative thus contributes to Sustainable Development Goal #5 (Gender Equality).
Project impact
The investment in mSurvey is part of PROPARCO’s innovation strategy. This innovative digital start-up offers companies a service with added value. It also benefits African people by offering a wider range of services and improving the quality of goods/services after collecting and analyzing consumer data.
Broad population segments are targeted and comprise vulnerable populations (potentially all consumers with a mobile phone). In Kenya, mSurvey invests in capacity building. In terms of training, mSurvey’s employees are expected to benefit from the experience of skilled management trained in the best practices of Silicon Valley.
01/15/2019
Date of signature of the project
Sectors
Kenya
Location
Financing tool
415 385
Euros
Amount of funding
USD 486,250 Equity investment
MSURVEY
Head office country
PKE1123
CES
This information is given at the time of signature, without prejudice to any developments in the operation/project
©Backdrop Ltd / Proparco
Tide Africa is a fund set up to support the development of innovative African start-ups.
TIDE supports a dozen or so companies which are less than 5 years old and have got through the stages of the idea (prototyping) and creation (market test) in order to finance their growth and scaling up, with several financing rounds and for total financing needs ranging between EUR 500 K and EUR 10m.
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on the same region
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on the same topic
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on the same financial tool
