17 Sep Celebrating Happy Pay’s $1.8M Pre-Seed Success and Financial Inclusion Mission

Posted at 17:03h in Innovation City Members by

At Innovation City, we pride ourselves on being a launchpad for startups, scale-ups, and visionary entrepreneurs like the team at Happy Pay, who are reimagining financial solutions in South Africa and beyond. Today, we are thrilled to celebrate Happy Pay’s remarkable achievement of securing a $1.8M pre-seed round of funding, a testament to their innovative vision and relentless dedication to providing zero-cost credit solutions to South African consumers.

Since their inception, Happy Pay has demonstrated outstanding growth, empowering over 150,000 active users with transparent and accessible Buy Now, Pay Later (BNPL) options. Their mission to bring the cost of credit to zero is reshaping the financial landscape for merchants and consumers alike. With an impressive 800% GMV growth and 500% revenue increase in 2024 alone, Happy Pay is fast becoming a driving force for financial inclusion in Africa.

“This is just the beginning. We’re excited to further increase financial inclusion and bring the cost of credit to zero for more South Africans and across Africa,” said Patrick Postrehovsky, Co-Founder and COO of Happy Pay.

This success is powered by the company’s exceptional culture of extreme ownership, efficiency, and execution – values that we champion here at Innovation City. The leadership team, led by Patrick, Wesley Billett, Mark Geary, and Morne Augustyn, has fostered a purpose-driven environment where bold ideas can thrive. Their achievements, including a perfect 100 NPS score, exemplify the impact of building an organisation that is as customer-focused as it is innovative.

“We’re proud to have played a part in Happy Pay’s journey by fostering a collaborative environment where startups like Happy Pay can scale their operations and connect with investors, partners, and innovators,” said Innovation City co-founder Kieno Kammies (No MBA). Their pre-seed round, led by prominent investors such as 4Di Capital, E4E Africa, DotExe Ventures, and others, underscores the confidence the investment community has in their vision.

Innovation City remains committed to nurturing businesses like Happy Pay that drive change and improve lives through technology. As they expand their product offerings, bring more merchants into their ecosystem, and work towards financial equity, we look forward to supporting them as they enter this exciting new chapter of growth.

Congratulations to the entire Happy Pay team for this milestone achievement. The future of financial inclusion in Africa looks brighter, and we are excited to witness Happy Pay’s continued success!

Join the Movement Looking to connect with trailblazers like Happy Pay? At Innovation City, we’re building the future together. Whether you’re a startup, scale-up, investor, or innovator, there’s a place for you in our community. Visit innovationcity.co.za to learn more about our mission and events.