Kenyan company Raise, an end-to-end fundraising platform, has successfully raised an undisclosed amount of funding from Carta, a San Francisco-based company specializing in capitalization table management and valuation software.

Founded in 2018 by Marvin Coleby and Eugene Mutai, Raise launched its alpha version in 2019 and went public in June 2020. The platform offers a simplified solution for cap table management, catering to startups and companies within the African ecosystem. By streamlining the shareholding structure before and after fundraising, Raise enables businesses to concentrate on growth and building a successful future.

Carta, the world's largest ownership platform, has invested in Raise. With a mission to establish a global stock exchange for private companies, Carta has raised an impressive $1.2 billion and boasts two million shareholders, managing assets worth $2.5 trillion. The company has onboarded 35,000 companies and regularly makes strategic acquisitions and investments in ownership products across different markets worldwide.

Marvin Coleby, co-founder of Raise, expressed enthusiasm about the collaboration with Carta's strategy team. He highlighted the close partnership that has allowed Raise to learn from Carta's expertise in delivering exceptional customer experiences within the African tech sector. The goal is to apply these learnings and build Africa's largest ownership platform.

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As Raise continues to explore product-market fit in African tech, the company plans to introduce liquidity products and experiment with African currency settlements. They also aim to synchronize with syndicate platforms, enabling direct investment into equity structures and cap tables. Raise customers can expect integrated market data from the tech ecosystem and a relaunch of its electronic shares product.

Furthermore, Raise intends to leverage Carta's API and the open cap table standard it is developing to enhance ownership, equity, and security experiences for its customers. Existing Carta customers and shareholders will have the ability to sync their holdings directly to Raise, enabling health checks against African law and macroeconomic trends.

The partnership between Raise and Carta signifies an exciting step forward for the Kenyan startup as it strengthens its position in the fundraising and cap table management space while benefitting from Carta's expertise and resources.