A platform that allows informal retailers to source goods on cash/credit directly from manufacturers/suppliers and have it delivered to their shops within 4 hours.
Current Status
Over the last 16 months, we have grown from 0 customers to 3,000+ customers and still growing on a daily basis. Our growth rate is 30% month on month and we ended last month with a GMV of $103K.
We are currently raising our seed round of $1.2M to help us scale across Ghana and venture into other markets. We are in the growth stage of our business where we are considering scaling to other markets. We are focusing on expanding to other African countries such as Senegal and the Francophone Region
Problem or Opportunity
About 20 million informal retailers (mom & pop shops) in Africa need to frequently restock products they want to sell at the lowest cost from wholesalers/middlemen they can rely on and also have access to credit to run their business. However, they are unable to do so because of; extra money they incur on transportation to go to the open market, high margins added on products by wholesalers, sales lost by closing their shops to go to the market and inability to access credit from microfinance institution due to being classified as not credit worthy.
Solution (product or service)
A platform that allows informal retailers to source goods directly from suppliers and have it delivered to their shops within 4 hours. Retailers also gets to access credit on the Shopa platform. Thus, retailers are able to restock their shops without leaving or closing their shops.
Also, we are collecting relevant data and will provide data analytics tools for manufacturers to have relevant insight into how their products are performing on the market.
Business model
Our platform serves as the link between manufacturers of fast moving consumer goods and retailers. Retailers order products on our platform, we take the goods from the main suppliers and deliver to the shops of the retailers. As such, we make 10% margins on all products listed on our platform. We also make money by charging 10% commissions on interest on loan given to retailers through our platform.
Incubation/Acceleration programs accomplishment
Catalyst Fund Digital Commerce Programme
Google Black Founders Fund
MEST
