VestedWorld buys minority stake in Nigerian MarTech firm

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VestedWorld has backed a marketing technology firm based in Nigeria on behalf of the Chicago-headquartered fund manager’s second venture fund which has now deployed 86% of its available capital. Lagos-based Terragon will use the capital to broaden its geographic reach, expand its suite of products, hire more people and develop new partnerships. How much VestedWorld Fund II is investing in the company has not been revealed, but the fund now holds a minority stake in the business.

Launched in 2011, Terragon provides its clients with insights into the African consumer, aggregating, organizing, and enriching customer data from various sources which helps brands get a better understanding of their existing and potential customer base. While the adoption of mobile and high-speed internet by the continent’s consumers has been robust,  brands still struggle to find the best way to engage with their customers digitally. The lack of actionable customer data, efficient digital channels, and engagement tools are among the major reasons why companies have been slow to incorporate digital and mobile marketing channels in Africa.

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