mSurvey has secured an investment from Safaricom's Spark Venture Fund, a USD1 million fund with an objective of accelerating high-potential Kenya-based mobile technology start-ups.
The investment in mSurvey marks the second and largest Spark Venture Fund investment to date.
With the investment, Safaricom Spark joins Silicon Valley's Cross Culture Ventures and the Virgin Group-backed, Caribbean-focused Alpha Angels network as investors in mSurvey.
Terms of the deal were not disclosed.
mSurvey will use the Spark Venture Fund investment to drive a value-add to merchants who use Safaricom's Lipa Na M-PESA service, a solution that allows consumers to pay for goods and services easily through their phones using M-PESA.
"This investment enhances our efforts to leverage mSurvey's highly-sophisticated technology as a significant opportunity for growth and innovation throughout our network, while also enabling us to interact and engage with our 25 million customers in one-to-one conversations," says Bob Collymore, chief executive officer, Safaricom. "mSurvey has consistently demonstrated its value to us as clients and now as investors, we see broad potential across a variety of sectors and beyond borders. We are pleased to help fuel a new paradigm of data-driven innovation powered by mSurvey."
