Business

E-commerce: Nigerian startup raises $1.8m to SMEs digital deliveries

Nigeria startup tech, Sendbox, has announced the completion of a $1.8 million seed round from investors, including 4DX Ventures, Enza Capital, FJLabs and Golden Palm Investments. With participation from Flexport and YC Combinator as part of its 2021 winter cohort, Sendbox’s total investment raised has now reached $2 million following a pre-seed round from Microtraction and 4DX Ventures in 2018. The Nigeria-based e-commerce fulfillment platform for merchants in Africa says the new funding will be used to expand the company’s operations in other countries across West Africa, bolster the development of its product range and hire new talent. Starting with logistics and fulfilment, Sendbox is building the operating system for e-commerce in Africa. Launched in 2018, the company provides affordable access to local and international delivery options for small-scale merchants selling on e-commerce and social media platforms.

Accessible to iOS and Android users via web application on Whatsapp, Facebook, Instagram and other e-commerce platforms, and through developer APIs, Sendbox is providing a single location to manage both local deliveries and international shipments to the EU, UK, US and Canada. To date, over 10,000 Nigerian SMEs have sent 200,000 products through Sendbox, saving on average 30 to 40 per cent per item by eliminating the need to work with separate logistics providers. Through its delivery management platform, which aggregates logistics providers and enables tracking, the company also offers a solution for merchants who lack the high volumes required to attract discounted delivery fees. The next stage of the company’s growth will see a move towards financing & payments, followed by e-commerce & marketplace integrations across West Africa and then further afield.

As a sector-agnostic platform, Sendbox is available to sellers right across the spectrum, empowering designers, micro-manufacturers and entrepreneurs who produce their own goods and distribute them on behalf of others In terms of products, clothing, fashion & lifestyle, and beauty and self-care have been most prominent since launch, while the company expects other categories to grow rapidly as SMEs continue to expand their customer bases. “No matter where in the world customers are, we want African SMEs to be able to reach them. “Deliveries in Lagos, Abuja, Port Harcourt and Ibadan have made up a large proportion of business for our domestic merchants.

On top of that, affordable access to the UK, EU, U.S. and Canada has created an opportunity to sell products to hundreds of millions of previously unreachable buyers. With this fundraise, our aim is to support more and more SMEs and help them grow, both locally and internationally, scaling alongside them as we connect African merchants with a global community of consumers.”

Emotu Balogun, CEO and co-founder of Sendbox said. Prolific mobile penetration on the continent, the rise of social media and knock-on impacts from COVID- 19 have shifted additional momentum towards e-commerce and social commerce, doubling monthly revenues for Sendbox since March 2020. Made-in-Africa products are now in higher demand across local and international markets. With 200 million Instagram users and one million Instagram businesses in Nigeria alone, Sendbox is well positioned to serve this growing market and multiply its merchant count over the coming months.

 

TRY IT TONIGHT!!! ---

 

Abuja Civil Servant reveals (FREE) secret Fruits that Increased his Manh0d size, gives Stronger Erections and ends Premature Erection in 7days...

   

CLICK HERE FOR FULL DETAILS.

 

%d bloggers like this:
Fake Richard Mille Replica Watches, www.richardmille.to The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica