African digital entertainment service Bozza, which has been compared to iTunes, is looking for £500k of equity funding – but it is turning to crowdfunding rather than traditional investment sources. The company, which runs a platform distributing music, video and spoken-word content, is raising money on the Emerging Crowd website to fuel its expansion plans across Africa and elsewhere in the world.
The company says its catalogue has generated more than 550k plays and views in the last year, but sees rapid growth ahead. “60% of Africa’s population is under 25, and they’re eager media consumers, but the majority access the internet solely or mainly through their mobile phones,” said CEO Emma Kaye. “Bozza was created to deliver what the global entertainment services are not – an affordable, mobile-first platform for downloading and streaming music, video, poetry and photography direct to mobile phones.” Investors can chip in as little as £500, with 13.7% of Bozza’s equity on offer.