Leapfrog Ventures CEO reveals $100k investment in Kenya’s MPost was concluded last year

Leapfrog Ventures CEO Takumo Terakubo has revealed he invested $100 000 in Kenyan virtual postbox startup MPost. The investment was made last year, he said.

Nairobi-based MPost uses consumers’ mobile phone numbers to create internationally accepted virtual post office boxes. The startup was founded in 2016 by CEO Abdulaziz (Aziz) Omar and CTO Twahir Mohamed.

Terakubo (pictured above) told Ventureburn in an email today that his investment in the startup was concluded in December last year.

MPost was founded in 2016 by CEO Abdulaziz (Aziz) Omar and CTO Twahir Mohamed

He explained that the startup is now focusing on product development and integrating with the post office and other stakeholders this year.

“We will accelerate the deployment of services throughout Kenya and Uganda. We are also planning a collaboration with one of the largest Japanese hardware manufacturer,” said Terakubo.

In June, MPost raised an undisclosed sum in a pre-Series A round with Cape Town based venture capital (VC) firm HAVAÍC (see this story).

At the time, HAVAÍC partner Rob Heath said the startup’s Series-A round was “progressing in a positive direction” with both African and international VC’s looking to participate in the round.

When asked if he will participate in this round, Terakubo — who pointed out that he is currently setting up a fund that will invest ticket sizes of between $100 000 and $1-million — said he “definitely” wants to support MPost in the future.

In November last year MPost said it was engaged in early pilot discussions in four African countries which include Botswana (see this story).

Kenyan tech publication reported in an article yesterday (29 August) that MPost has about 40 000 users on its platform.

Last year the Startupbootcamp AfriTech (SBC AfriTech) alumnus won the main pitching session at the 2018 SA Innovation Summit, winning an opportunity to represent Africa at the Startup World Cup in Silicon Valley.

Ventureburn sought comment from both Omar and Mohamed, but had not received a response at the time of publication.

Read more: HAVAÍC invests undisclosed sum in Kenyan virtual postbox startup MPost
Read more: Here’s who took home top honours at the SA Innovation Summit
Read more: SBC AfriTech startups have raised €600k and secured 20 pilot agreements [Updated]
Read more: Leapfrog Ventures’ Takuma Terakubo wants to fund 200 startups by 2020

Featured image: Leapfrog Ventures CEO Takumo Terakubo (Supplied)