Betastore, a start-up based in Nigeria has secured N1 billion in Pre-Series A funding to enable it to expand to three other African countries of Ghana, DR Congo and Cameroon by the end of 2022.
The funding came through 40 Global, VestedWorld and Loyal VC. It has brought the total funding received by the firm to date to about N1.2 billion.
What Betastore does
The firm, Betastore is a marketplace that enables traders to secure fast-moving goods directly from manufacturers or distributors. This keeps the prices of the goods competitive and eliminates interactions with middlemen and agents, according to a Nairametrics report.
Betastore also works with logistics providers to ensure a 24-hour delivery of goods. The e-commerce platform intends to introduce finance in July, a launch that follows a pilot programme that involves about 200 retailers that the start-up carried out last year.
Funders celebrate Betastore Amit Bhatti, the Principal at 500 Global said the company celebrates Betastore’s gifted team and what they are creating that has the potential to increase the growth of Africa’s retailers.
According to him, with Betastore, merchants can get better transparency into inventories and pricing. Betastore CEO, Steve Dakayi-Kamga that their technology allows retailers to order on-demand and have access to a combination of products and solve logistics problems.
He said the company plans to enter new markets before the end of the year and expand to about 100 African cities across Nigeria, Ivory Coast and Senegal. , a Nigerian fast-growing EdTech startup raises N10 million pre-seed funding to go into full operation Legit. ng has reported that Edcent, a Nigeria remote learning application has secured an N10 million investment to scale his company. Mike Ikenwa, Founder and Chief Executive Officer of Edcent disclosed this to Legit.ng in an exclusive chat.