3 years ago

Betastore Secures $2.5M to Empower Informal Retailers in Africa

  • Betastore, a Nigerian B2B marketplace for informal retailers, has raised $2.5 million in a Pre-Series A round led by 500 Global, VestedWorld, and Loyal VC

  • The funding will be used to expand the company's operations in West and Central Africa and to launch a new financing product for retailers

  • Betastore's platform enables informal traders to source goods directly from manufacturers and distributors, which helps them to keep prices competitive and to avoid stockouts

  • The company also provides logistics services to ensure that goods are delivered to retailers quickly and efficiently.

      • ProblemRetail

      "Informal retailers in Africa often face stockouts, leading to unstable income and difficulty accessing financing. This is a major problem as they represent 80% of household retail in sub-Saharan Africa."

      Solution

      "Betastore is a B2B e-commerce platform that allows informal retailers to order goods directly from manufacturers and distributors, solving stockouts and offering access to financing based on sales data."

      Covered on