Nigerian B2B e-commerce startup TradeDepot Raises US$10 Million Pre-Series B Funding

Nigerian startup TradeDepot, a B2B e-commerce platform for consumer goods in Africa, has raised US$10 million in a pre-Series B equity funding. The investment round was co-led by Partech, International Finance Corporation, Women Entrepreneurs Finance Initiative (We-Fi), and MSA Capital. Founded in 2016, TradeDepot is an end-to-end distribution platform that aims to connect the world’s top consumer goods companies directly to African retailers. The startup plans to build the largest retail distribution network in Africa with a network of over 40,000 micro retailers across Nigeria. The fresh funds will be used to expand into other African cities and launch a suite of financial products and credit facilities for its retailers. The startup’s portfolio of companies includes the Nestlé, Unilever, GB Foods, and Danone. TradeDepot will help its female entrepreneurs who make up 75 percent of its customer base, with mentorship and support to grow and expand their businesses.


#Africa #Technology #Nigeria #TradeDepot
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