More Money, Less Problems
The startup fixing finance’s worst headache
Hi there,
Welcome to the 6th edition of Next Capital’s Startup Spotlight, where we help you find Africa’s most promising startups—before anyone else does.
Backdrop
Some companies die because they run out of money.
Others die because they don’t know where their money is.
If you’ve ever worked in finance at a fast-growing company, you know how chaotic things can get. Multiple bank accounts. Scattered ledgers. Manual reconciliation. No cash visibility.
And sometimes, one small error—like a missed transaction or an unreconciled invoice—can become a six-figure problem.
It’s a silent killer for many African businesses.
Klak is building software to fix that.
The problem
Managing money inside a business is a full-time job.
Finance teams in African companies often spend days (even weeks) closing their books every month. Reconciliation is a spreadsheet nightmare. And because financial data is scattered across different systems, it’s hard to get a real-time view of cash flow.
Even with software like QuickBooks, you’re still left guessing:
Where’s the missing ₦3.2M?
Why hasn’t Client X paid?
What’s our actual cash position?
There’s a reason most finance teams are under-resourced and overworked.
Klak’s fix
Klak calls itself a finance automation company. But what it really does is restore sanity.
Their software connects to your bank accounts, accounting tools (like QuickBooks and Sage), and financial data sources—then pulls it all into a single dashboard. That’s what they call “finance orchestration.”
Once everything’s synced, Klak handles the hard stuff:
Cash flow visibility: See your real-time cash position across bank accounts, petty cash, and ledgers.
Forecasting: Project your cash position 12 months ahead, based on historical and forecasted inflows and outflows.
Reconciliation: Run automated bank vs ledger matching, spot discrepancies, and fix them. What used to take days now takes minutes.
Accounts receivable tracking: Create automated payment reminders (pre-due, due, and overdue), and attach payment links to get money in faster.
Coming soon?
POS reconciliation for retail chains
Daily transaction syncing for high-frequency sellers like petrol stations and supermarkets
Klak is built for companies with multiple bank accounts and high transaction volume—think FMCGs, mid-sized tech companies, and service businesses with complex operations.
The money talk
Klak only launched in January 2025.
And in just a few months:
They’ve hit ₦10 million in revenue
Have 50 paying customers
And a lean 9-person team, including a CTO who was formerly an engineering manager at Cellulant
The business model? ₦20,000 per module, per user, per year.
They’ve raised $300k from 54Collective, but aren’t actively fundraising. They're currently burning about $4,000 per month, split roughly 60/40 between payroll and tech.
Why we’re excited
Financial operations don’t sound sexy. But every scaling company hits a point where the spreadsheet stops working. And in a region like Africa, where capital efficiency can make or break a business, cash visibility isn’t a luxury—it’s a lifeline.
Klak’s edge isn’t just the automation. It’s the granularity. They go beyond inflows vs outflows to show detailed ledger mapping, real-time variance tracking, and intelligent invoice-chasing sequences.
And for a team that’s already had one exit (founder Seun Ayegbusi built and sold a digital insurance API startup), they know what execution looks like.
The Team
Seun Ayegbusi(Co-founder/CEO): 2X founder, 1 Exit(Insurpass). Venture operator and tech entrepreneur —Over a decade building across insurtech, fintech, and B2B SaaS verticals.
Charles Otieno(Co-founder/ CTO): Software developer and engineering manager with over a decade of experience building payment solutions for banks across African countries. Ex Cellulant and Max.ng
What could go wrong
Klak is moving fast. But there are a few hurdles they’ll need to navigate:
Enterprise sales takes time: Convincing mid-sized and large businesses to adopt new finance tools isn’t an overnight sale. Even with a great product, procurement cycles and CFO inertia can slow down growth.
Narrow customer segment: Klak’s sweet spot is companies with complex operations and multiple bank accounts. That’s a narrower slice of the market—and they'll need laser-focused GTM to avoid spending resources chasing the wrong leads.
Integration risk: The magic of Klak lies in how well it integrates with banks and accounting platforms. If open banking regulations tighten or APIs become unstable, the product experience could take a hit.
Product creep: They're building a broad suite—cash flow, reconciliation, invoicing, POS modules. But there's a thin line between being powerful and being bloated. Staying focused on core workflows will be key.
That said, the upside here is real. African businesses are finally digitizing finance, and Klak wants to be the system they grow into.
Now they’re looking to connect with large-scale retail businesses that have daily reconciliation problems.
Know anyone at Chicken Republic, Mobil, or similar chains?
Hit reply. Let’s make it happen.
If you’d like to meet the team or would love a more detailed investment memo, shoot me a reply.
And if you’re building something cool we should know about, fill out this form
Till next week! 👋
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