Talk360, a leading international calling app, has raised $1.4 million in a Pre-Series A funding round led by long-time backer Havaic. This latest investment will help the company reach its goal of connecting seven million users by 2025, while pushing towards long-term profitability.
Originally founded through a partnership between South Africa and the Netherlands, Talk360 has experienced rapid growth, expanding its user base from 2.3 million to 4 million in just two years.
The app allows users to make affordable international calls, requiring only the caller to have the app and internet access to reach any global number.
Investor confidence has remained strong. In 2022, Talk360 raised $7 million in two seed funding rounds, attracting support from African venture capitalists, European fintech angels, and founders of Tyme Bank.
Following this, Talk360 focused on expanding its presence among the African diaspora in key markets like the UK, US, and South Africa, while also developing a pioneering payment aggregator to streamline transactions across the fragmented African market.
The company’s payment platform has already achieved a 25% increase in payment conversion. Talk360 is considering opening this service to external merchants by the end of 2024, potentially revolutionizing payment systems across Africa.
The new $1.4 million investment, which maintains Talk360’s valuation at over $30 million, includes $1 million from Havaic and $400,000 from other investors, coming at a time when global venture capital markets face challenges.
With this funding, Talk360 aims to add more African languages to its platform, including Amharic and Portuguese, to meet growing demand from users in countries like Ethiopia.
Talk360’s continued expansion reflects its commitment to providing affordable and accessible communication solutions for underserved communities, especially African migrant populations.
By focusing on local relevance and strategic partnerships, the company is well-positioned to bridge communication gaps for millions of users and strengthen global connections.