Talk360, the South African-based international calling app, has secured $1.4 million in a pre-Series A funding round led by long-standing investor HAVAÍC. This latest injection brings the company’s valuation to around $30 million and fuels its mission to connect seven million people by 2025.
Founded in 2016 by South African entrepreneur Dean Hiine and Dutch co-founders Hans Osnabrugge and Jorne Schamp, Talk360 offers an affordable solution for international calls to any landline or mobile number. Uniquely, only the caller needs the app and an internet connection, making it accessible for users reaching out to regions with limited internet infrastructure.
Over the past two years, Talk360 has nearly doubled its user base, growing from 2.3 million to over 4 million users in 2023. “This funding will help us continue our mission of connecting African migrant communities with their families back home,” said CEO Hans Osnabrugge. “We’re gearing up for our next phase of growth to reach seven million people and achieve profitability across our global operations.”
The company plans to utilize the new funds to expand its services further into Africa by localizing the app into more languages such as Amharic and Portuguese. Additionally, Talk360 aims to establish new partnerships with remittance companies, retailers, and brands to enhance its reach and service offerings.
Talk360 has offices in South Africa, the Netherlands, India, and Nigeria, reflecting its global footprint and commitment to serving the African diaspora worldwide. The startup previously raised $7 million in a seed round in 2022, attracting investments from notable venture capitalists and fintech angels across Europe and Africa, including executives from Adyen, Mollie, and TymeBank.
An interesting development on the horizon is Talk360’s in-house payment platform, designed to integrate various local payment methods and currencies across Africa. Initially used internally to improve payment conversion rates—reportedly boosting them by an average of 25%—the company is considering opening this platform to external merchants by the end of 2024. This move could address the fragmented payment landscape in Africa, benefiting both consumers and businesses by reducing failed payment attempts.
HAVAÍC’s Managing Partner, Ian Lessem, expressed confidence in Talk360’s trajectory despite challenging economic conditions. “Their ability to navigate and succeed speaks to the strength of their business model and clear vision. We believe this latest round of funding will empower them to deepen their impact, especially in underserved communities across Africa,” he said.
Co-founder and MD Africa, Dean Hiine, emphasized the importance of localization and trust in underserved communities. “By offering solutions that resonate with the unique needs of our users, we aim to deliver value at a local level. This new funding will help us capitalize on that trust and expand our tailored solutions,” he noted.
As Talk360 sets its sights on reaching seven million users and achieving profitability, the company is poised to make significant strides in connecting the African diaspora and simplifying cross-border communications.
