Scale, a leading Issuer Orchestration Platform and payments enabler, has successfully secured $700,000 in Pre-Seed funding. The round was led by 54 Collective and First Circle Capital, alongside Sunny Side Venture Partners and several industry expert angel investors. This investment is a major milestone for Scale, which celebrates its first anniversary in October, and will fuel the company’s expansion into key African markets, including Kenya, Zambia, and Côte d’Ivoire.
The funds raised will accelerate Scale’s entry into these markets, where it aims to reshape the payments landscape by delivering rapid, critical payment use cases. In just under a year, the company has strategically secured partnerships with investment, banking, network, and payment technology firms, positioning itself as a modern card issuing orchestration and Infrastructure-as-a-Service (IaaS) enabler.
According to Scale’s CEO, Miranda Perumal, the successful funding round reflects the company’s strong value proposition and dedication to supporting African fintechs. “This investment is a testament to our mission to drive financial inclusion and empower businesses across the continent,” said Perumal. “With the backing of our esteemed investors and partners, we are well-positioned to build trust with African businesses and solve major pain points in card issuance. We are focused on delivering world-class service and revolutionizing card rails for fintechs and businesses.”
Perumal emphasized that Scale is not just a startup but a venture built on passion and expertise. “We are committed to helping African fintechs soar to new heights, and this funding is key to advancing our mission.”
Driving Financial Inclusion and Entrepreneurship
Hetal Patel, Chief Investment Officer at 54 Collective, explained that Scale’s approach to simplifying card issuance is pivotal in unlocking value for clients, particularly those focused on underserved markets, such as women and youth. “Scale’s ability to address key pain points in the card issuance process is a game-changer for businesses aiming to offer products and services to these underserved populations,” said Patel. “We believe in backing ventures that drive real impact across the continent, and Scale is uniquely positioned to do just that.”
Selma Ribica of First Circle Capital highlighted that Africa has the lowest payment card penetration per capita globally, and businesses looking to introduce card products face numerous challenges. Ribica noted that it can take up to 18 months for businesses to launch a card product—if they succeed at all—due to the complex process of managing multiple partnerships and technical requirements.
“Scale’s Card-as-a-Service platform offers a ready-made solution, allowing fintechs and corporates to launch a card product within weeks, significantly reducing time to revenue,” said Ribica. “This not only simplifies the process but also accelerates the growth of African businesses by allowing them to seamlessly integrate card services into their product offerings.”
Transforming Payments in Africa
Sadaharu Saiki, Founder and General Partner of Sunny Side Venture Partners, underscored the importance of payments simplicity and access across Africa, especially as cross-border transactions become more prevalent. He emphasized that despite the proliferation of fintech solutions, the card remains the gold standard for payments, and Scale is making card issuance more accessible across multiple countries.
“Scale is addressing one of the continent’s most pressing challenges: the complexity of card issuance. Their solution has the potential to revolutionize the way people across Africa access and use payment systems,” said Saiki. “With a team that has decades of experience in African markets, Scale is uniquely equipped to turn this ambitious vision into reality.”
Looking Ahead
As Scale continues to grow, it is actively engaging with global investors and partners to drive further collaborations. The company’s robust pipeline, strengthened by partnerships with banks and card schemes, positions it as a formidable player in Africa’s fintech ecosystem.
“We are more than just a funded operation,” Perumal concluded. “Scale is built on an unyielding passion to empower Africa’s fintechs. With unmatched expertise and a relentless focus on execution, we are fulfilling our promise to transform payments across the continent.”
With this latest funding round, Scale is well on its way to becoming a critical enabler for African FinTechs and businesses, driving financial inclusion and economic growth across the continent.
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