Tradedepot Acquires Accra-Based Green Lion To Accelerate Expansion Across Ghana
The Nigerian B2B e-commerce and embedded finance startup offers a broad range of consumer goods to SME retailers within its network and provides credit lines to enable these retailers to access inventory and pay in installments as they sell on to their own customers.
TradeDepot has announced the acquisition of Green Lion, the biggest and fastest growing B2B e-commerce platform in Ghana, to accelerate the delivery of its services across the country.
TradeDepot connects consumer goods brands in Africa directly to a target market of several million retail outlets across the continent. Via its ShopTopUp platform.
The company raised a US$110 million Series B funding round in December and will now be expanding further across the Ghana after acquiring Green Lion.
Green Lion works to revolutionize access to essential goods and services, and enables digital commerce for neighborhood retailers in Ghana.
TradeDepot said it will leverage its data, technology and robust logistics operations to connect more neighborhood retailers in more Ghanaian cities to suppliers and make financing more accessible and affordable.
According to TradeDepot, the acquisition will expedite the delivery of its services to more cities to enable increased sales, higher margins and other value-added services for all parties across the retail value chain.
Onyekachi Izukanne, CEO and co-founder of TradeDepot, said: “Ghana represents a significant market for consumer goods in Africa and we are excited to bring the Green Lion team onboard to drive growth and prosperity for more retailers and distributors in the country. We look forward to deepening our relationship with the market and working with more partners to maximize the opportunities that abound in Ghana and beyond.”
Green Lion’s Jorge de Rojas said: “It is an exciting time for B2B e-commerce in Africa and we are thrilled by the opportunity to drive more value in the Ghanaian ecosystem and all over the continent.”
TradeDepot will take on all existing Green Lion Africa relationships and assets in Ghana. The Green Lion team will also be joining TradeDepot to support the mission to build the future of retail and make food and supplies more accessible and affordable for even the most remote consumers on the continent.