Tech

Nigerian retail startup Renda secures $1.9m funding to drive expansion

Published

8 months ago

May 5, 2024

Nigeria’s retail startup, Renda, has announced securing a $1.9 million pre-seed round of equity and debt funding to enable it enhance its offerings and drive expansion.

Renda, a technology solution startup that simplifies order fulfillment and retail distribution for businesses in Africa, secured the funds from Ingressive Capital which led the round, with participation from Techstars Toronto, Founders Factory Africa, Magic Fund, Golden Palm Investments, Reflect Ventures, and Vastly Valuable Ventures.

The startup’s co-founder and CEO, Ope Onaboye, who made the announcement, said they plan to utilize the funds to pursue its plans of expanding into more cities in Nigeria and Africa.

“Our vision at Renda is to become the largest and most trusted fulfillment partner for e-commerce and major businesses across Africa,” Onaboye said.

“Since inception, we have been privileged to work with some of the largest companies across manufacturing, FMCG, Agriculture and e-commerce sectors, enabling them to scale across Nigeria.

“We are grateful for the investors who have bought into the Renda vision and decided to partner with us as we build the future of commerce on the continent.

“I’m excited to see how we harness the power of technology to simplify and optimise order fulfillment and retail distribution for thousands of businesses across the continent,” he said.

Launched in January 2021 by Onaboye and Bimbo Onaboye, Renda allows businesses to access on-demand flexible storage across Africa, track and manage their inventory across all locations, process large volumes of orders for same-day delivery, manage and track all deliveries in real-time, and also manage and reconcile cash collections.

The platform is already powering much of Africa’s e-commerce sector, with customers including Omnibiz, MarketForce, Kyosk, Wabi, Jumia, and other major brands, according to the CEO.

He added that Renda will use the funding to technologically enhance its offerings, drive expansion to more cities in Nigeria and East Africa, and grow its partnership network across all active markets.

So far, the startup has empowered over 500 businesses across 15 states in Nigeria, while it expanded into Kenya last year.

Related Topics:Expansion Featured Funding Renda Retail Startup

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Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

3 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

4 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation