Bamboo Capital Partners managed the BLOC Smart Africa fund and was launched by Smart Africa Alliance. TooMuchWifi is a South African internet service provider.
Connectivity Capital, Atreyu Investments and a European Family Office were among the existing investors who made follow on investments in the $1,000,000 pre-series-A round, which was managed by BLOC SA.
TooMuchWifi addresses the connectivity gap by offering affordable fiber-backed Internet to underserved areas in South Africa.
“To date, TooMuchWifi has saved Capetonians living in townships approximately ZAR 700 million ($50 million) in data costs,” says Ian Thomson, CEO of TooMuchWifi. We have trained and hired more than 245 young people in the township communities that we serve, who were previously unemployed. We believe that providing fast internet access for all South Africans is one of our best steps towards a better future.
Bamboo Capital Partners’ Founder and Managing Partner, Jean-Philippe de Schrevel, said, “We are thrilled to support the growth of TooMuchWifi and their objective to improve connectivity across South Africa.”
These funds will be used for scaling operations to expand our presence in existing markets as well as to reach new communities.