South African startup Maholla, the innovative consumer rewards app, has successfully concluded a seed funding round, raising an impressive $1.5 million. This significant investment will fuel Maholla's ongoing expansion efforts.

Maholla has gained popularity as a viral consumer app that offers rewards to users for simply scanning receipts from any store. This unique approach enables users to earn rewards regardless of where they shop. These rewards include instant airtime, 1Vouchers, engaging in-app games, and more.

Having previously secured $580,000 in a pre-seed round in July 2022, Maholla's total funding now exceeds $2 million with the addition of the recent $1.5 million seed round. Notable investors in this round include the Buffet Group, Castleton Capital, Praesidium Capital Management, and Galloprovincialis.

With the new funding, Maholla aims to scale its rewards platform, expanding its user base to reach millions of individuals. Additionally, the company intends to strengthen its technical capabilities, fortifying its position in the market.

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“Our company is on route to tracking as many purchases as a top five retailer in South Africa,”

said Jed da Silva, co-founder and head of product at Maholla. 

Household names including the likes of Maggi, Milo, Ricoffy, Nola, Rama, Hungry Lion, Fusion, Switch Energy and Mr. Sheen are among the many brands already benefiting from Maholla’s dataset and targeting capabilities.