Funding News South Africa

Jenesys AI secures $1.1m in pre-seed funding

Jenesys AI, a company focusing on B2B invoice management and payments, has announced a $1.1m pre-seed funding round. Spearheaded by Nigerian co-founder Oluwatosin Dairo, Jenesys AI does accounting and compliance with AI technology.
Jenesys AI co-founders: Tosin (L) and Nicolai
Jenesys AI co-founders: Tosin (L) and Nicolai

Founded by Nicolai Thomson and Oluwatosin Dairo, Jenesys AI is a fusion of global expertise and local insights. Dairo's journey from the streets of Ojota to the forefront of AI technology demonstrates the power of determination and innovation. His roots in Idanre, Ondo State, and education at the University of Ibadan reflect a deep connection to Nigeria, pivotal to Jenesys AI's operations.

Jenesys AI operates from London and maintains a significant presence in Lagos, Nigeria, employing three senior developers with plans to double the team. The Nigerian workspace in Magodo Phase II, Lagos State, is a hub for collaboration and innovation when Dairo is in the country, emphasizing the company's commitment to nurturing local talent and technology.

This investment, led by Twin Path Ventures and joined by Fuel Ventures, Antler, Hatcher+, and angels from the US, UK, and Nigeria, empowers Jenesys AI to expand its engineering, customer success, and global payment compliance capabilities. Including Nigerian expertise in the team highlights Jenesys AI's unique approach to integrating AI into everyday financial workflows.

Ollie Purdue, Partner at Antler, comments, “AI is the single biggest growth opportunity in the world. Jenesys is applying genuine innovation in this space to transform invoice and cash flow management. Today’s funding and acquisition announcement is a testament to their future potential. This ambitious and highly skilled founding team builds world-class technology that addresses an urgent market demand. We are proud to have backed Nicolai and Tosin from day zero and to continue backing them as they grow.”

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