In February 2022, Cossi Achille Arouko (CEO) and Samy Paul Chiba (COO) established an innovative fintech.
During Arouko’s tenure as the tech lead at Paystack, observing how BILL Spend & Expense managed expenses for Paystack’s employees sparked the idea for Bujeti.
Arouko expressed, “Seeing platforms like Divvy [Now BILL Spend & Expense] tackle expense management globally inspired us to address this need in the African market.”
Bujeti’s platform aims to empower African businesses by facilitating the issuance of cards to employees while maintaining spending control.
The Nigerian startup provides a seamless, integrated accounting and expense solution catering to various industries like logistics, healthcare, agriculture, and construction.
They oversee the issuance of corporate cards, simplifying spending processes for employees and contractors.
Businesses on Bujeti’s platform can exercise control over expenses through restrictions, spending limits, and approval flows for all stakeholders, including executives, staff, contractors, and vendors.
The company is actively working on a multi-currency feature to manage finances for businesses operating across different countries.
Notable competitors include Duplo, Flex Finance, Allawee, and Boya, another YC-backed fintech startup.
According to the CEO, Bujeti has successfully onboarded approximately 1,000 businesses across Africa, including Mono, Spleet, and Eden Life, in just the past two months.
Looking ahead, Bujeti plans to utilize its recent investment to expand services, fuel growth, and strengthen its market presence.
Additionally, the company is in the process of developing features such as credit lines for SMBs and introducing new products tailored for enterprises.
