# Pastel

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pastel

- Industry: Financial Services
- Headquarters: Lagos, Nigeria
- Website: www.pastel.africa
- Total disclosed funding: $5.5M
- Latest round: Seed (Aug 15, 2022)
- Investors on record: 7

## About

Based in Nigeria, and founded in 2019, Infinity Labs Ltd. doing business as Pastel operates as a financial technology company that provides support to African businesses by giving them the tools, they need to run their operations efficiently. In August 2022, the firm raised USD 5.5 million in seed funding led by new investor TLcom Capital LLP, with participation from other new investors Ulu Ventures, Soma Capital, Plug and Play Ventures, Golden Palm Investments Corporation, Global Founders Capital, and DFS Labs.

Infinity Labs Ltd. provides a mobile application known as Sabi Bookkeeping and Quick receipt. Sabi Bookkeeping provides customers to manage their transactions easily and faster and gives debt notification to the persons using the application. Quick receipt generates multiple receipts and invoices anytime and anywhere rather than inputting the details manually. Additionally, the app provides template options so that users can choose as per their choice. Furthermore, these applications can be used in both iOS and android software.

The company plans to use August 2022 funding to expand its product offerings and develop more productivity and finance management features and tools.

## Funding rounds

- Seed, Aug 15, 2022, $5.5M — TLcom Capital, Ulu Ventures, Plug and Play, Global Founders Capital, Soma Capital, Golden Palm Investments Corporation, DFS Labs

## Investors

- TLcom Capital (https://capitalatlas.ai/funds/tlcom-capital) — Seed
- Ulu Ventures (https://capitalatlas.ai/funds/ulu-ventures) — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed
- Soma Capital — Seed
- Golden Palm Investments Corporation (https://capitalatlas.ai/funds/golden-palm-investments-corporation) — Seed
- DFS Labs — Seed