South African Flood Secures $2.5M for SuperApp Technology

S-AaaS technology enables financial institutions and mobile operators to integrate e-commerce directly into existing apps, reaching millions of users without requiring new downloads in emerging markets

André de Wet, founder and CEO of Flood. 

Flood, a South African technology company specializing in "SuperApp-as-a-Service" (S-AaaS) solutions, has secured a $2.5 million seed extension, bringing its total seed funding to $3.5 million. The investment round was led by pan-African venture capital firm CRE.vc, with participation from strategic angel investors.

The company's platform enables telecommunications companies and financial institutions to transform their existing mobile applications into comprehensive digital commerce ecosystems. This white-label solution allows banks and mobile network operators to offer e-commerce, loyalty programs, and digital payment services directly within their apps, eliminating the need for consumers to download additional applications.

Founded by serial entrepreneur André de Wet, who previously built PriceCheck to five million monthly users before its acquisition, Flood addresses a critical challenge in emerging markets where 95% of retail transactions still occur offline. The platform connects local merchants with consumers through apps they already trust and use daily, creating a seamless bridge between physical retail and digital commerce.

"Traditional e-commerce models have struggled in emerging markets due to prohibitive fulfillment costs and inadequate infrastructure," explains Pardon Makumbe, Founder and Managing Partner at CRE.vc. "Flood's approach leverages existing merchant locations for fulfillment and established app user bases for distribution, fundamentally changing the economics of digital commerce."

The platform has demonstrated significant traction across its pilot markets in South Africa, India, and the Maldives. In one deployment, Flood onboarded 8,000 merchants within three months, while another market saw daily app usage rates reach 28% of the population. The company has processed over 14 million transactions in a market with fewer than 500,000 residents, showcasing the platform's scalability and adoption potential.

For telecommunications companies and banks, Flood offers a strategic opportunity to monetize their substantial user bases beyond traditional services. Mobile operators can generate revenue beyond data packages, while banks can expand their service offerings without developing e-commerce infrastructure from scratch. Small and medium-sized enterprises (SMEs) gain access to digital commerce capabilities without the technical complexity or cost of building their own platforms.

The fresh capital will accelerate Flood's expansion into new territories scheduled for launch later this year, with a focus on rapidly onboarding SMEs that form the economic backbone of emerging markets. The company's strategy reflects de Wet's philosophy that "in emerging markets, execution matters more than strategy, while distribution trumps innovation."

By partnering with institutions that already command mass market reach, Flood eliminates the costly customer acquisition challenges that plague standalone super apps. This approach positions established players to evolve into comprehensive digital commerce platforms while maintaining their core services and trusted brand relationships.