Carry1st Raises $6m Series A Funding to Tap Africa’s Underserved Market
Carry1st, a mobile games publishing platform that allows global gaming studios to tap into the underserved African market, has raised US$6 million in Series A funding to help it grow.
Founder in 2019, Carry1st serves the first generation of African smartphone users, with over 1.5 million users in the area.
For its partners, the company offers a full stack publishing approach that includes distribution, localization, user acquisition, promotion, customer engagement, and monetisation. The Pay1st platform from Carry1st is an integrated fintech solution that brings together the most widely used payment methods in six African countries, enabling customers to pay in their preferred process.
This series A raise brings the total amount of funding secured by Carry1st to US$9.5 million. The US$6 million round was led by Colorado-based video game VC firm Konvoy Ventures, with participation from Riot Games, Raine Ventures, AET Fund / Akatsuki, and TTV Capital.
The startup will use the funding to secure new partnerships with global gaming studios, launch and scale its existing portfolio of games, and expand its product, engineering, and growth teams.
“We’re excited to partner with this world-class group of investors who, in addition to capital, bring expertise across game development, publishing, and fintech,” said Cordel Robbin-Coker, co-founder and chief executive officer (CEO) of Carry1st. “In 2020, we were able to successfully sign seven great titles, recruit a top notch international team, and build out our payments and digital commerce platform. With this investment, we’re positioned to delight millions of users across Africa and the globe.”
Jackson Vaughan, a managing partner at Konvoy Ventures who will join Carry1st’s board of directors, said the company was helping to introduce mobile gaming to Africa by addressing delivery issues with its payment infrastructure and approaching sub-regions with contextual knowledge.
He said “Cordel, Lucy, and Tino are incredible founders with strong experience on the continent. We’re excited to lead their Series A and support them as they continue to bring joy to their users across the continent”.
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