Nigerian startup Renda just got a big boost! They raised $1.9 million to help them grow. They’re already big in Nigeria, working in 15 cities. Now, they want to spread their wings to Kenya and more cities in Nigeria.
This funding is part loans ($600,000) and part ownership stakes ($1.3 million). It’s been a great year for companies like Renda in Africa. Just in the first three months of 2024, similar companies raised about $151 million!
The main backers for Renda are Ingressive Capital, Techstars Toronto, Founders Factory Africa, and a bunch more.
Renda is super helpful for online stores. See, companies like Jumia and MarketForce need to deliver their products to customers quickly. But handling all that delivery stuff themselves can be tricky. That’s where Renda comes in. They handle everything from storing products to delivering them to your doorstep.
What’s cool about Renda is they don’t own any warehouses or trucks. Instead, they team up with over 5,000 other businesses to get the job done.
They’re doing pretty well for themselves too. Since they started, they’ve processed a whopping 250,000 orders!
Started by siblings Ope and Bimbo Onaboye in 2021, Renda began by helping small businesses with their logistics. But now, they’re working with bigger fish like e-commerce companies.
Through their app, Renda360, businesses can keep track of their inventory, process orders, manage deliveries, and even handle cash payments.
And they’re not stopping there. They want to be the go-to guys for e-commerce companies all across Africa. Kenya’s next on their list, and they might even start owning some warehouses and trucks along the way.
Related Posts
Klasha Raises An Additional $2 Million To Expand B2B Cross-Border Payment Rails Into China
Moove Expands To Mexico, Extending Global Footprint
