Monday, September 1, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Ecommerce

TradeDepot, a Nigerian B2B e-commerce startup, has raised $110 million in a Series B funding round

Tech Gist Africa by Tech Gist Africa
12/08/2021
in Ecommerce, News - West Africa
0 0
0
TradeDepot

TradeDepot

0
SHARES
Share on FacebookShare on Twitter

TradeDepot, a B2B e-commerce and embedded finance platform based in Nigeria, has raised US$110 million in an equity and debt Series B investment round to enhance the delivery of buy-now-pay-later services to five million SME retailers throughout the continent.

The International Finance Corporation (IFC) led the Series B equity round, which included Novastar, Sahel Capital, CDC Group, Endeavor Catalyst, and existing investors Partech and MSA Capital.

Arcadia Funds led the debt financing.

TradeDepot, which was founded in 2016, connects African consumer products brands with a target market of several million retail outlets across the continent.

The startup provides SME shops in its network with a wide choice of consumer items as well as credit lines that allow them to obtain inventory and pay in installments as they sell to their own consumers.

“We’re still putting a lot of effort into making digital commerce and finance accessible and affordable to neighborhood merchants in Africa’s major cities. We are thrilled to have an outstanding set of new investors join our board of directors, including IFC’s Wale Ayeni and Brian Odhambo of Novastar, to support us on our mission to create growth and prosperity across Africa,” said Onyekachi Izukanne, CEO and co-founder of TradeDepot.

“The informal sector is a major and important element of Africa’s economy, accounting for about 80% of jobs in the area,” said IFC managing director Makhtar Diop. “We’re pleased to collaborate with TradeDepot to use technology to help small businesses across Africa, particularly those managed by women, have access to the resources they need to expand and scale.”

TradeDepot connects retailers with suppliers and unlocks financing to fund inventory purchases for retailers, enabling increased sales, higher margins, and other value-added services for all parties. With active operations in 12 cities across Nigeria, Ghana, and South Africa, TradeDepot leverages its data, technology, and robust logistics operations to connect retailers with suppliers and unlock financing to fund inventory purchases for retailers, enabling increased sales, higher margins, and other value-added services for all parties.

The money will help the company expand its buy-now-pay-later service to more stores, expanding consumer goods brand penetration and driving prosperity in one of the continent’s most important industries.

 

Read more on Tech Gist Africa:

Pariti, a Kenyan community marketplace, has received $2.85 million in seed funding

OfferZen, a South African tech talent marketplace, has raised $5.1 million in a Series A funding round

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Chowdeck Nigeria
Funding

Chowdeck, a Nigerian Startup Raises $9M in Funding

by Tech Gist Africa
08/20/2025
0

Chowdeck, a Nigerian on-demand delivery platform, has raised $9 million in a Series A funding round to accelerate its expansion...

Read more
Farida Bedwei Logiciel Ghana

Farida Bedwei: Powering Africa’s Fintech Revolution Against All Odds

08/11/2025
Central Bank Of Ghana Tech Gist Africa

Bank of Ghana Requires Registration for All Virtual Asset Service Providers

08/04/2025
Ghana Tech News

Ghana Launches 24-hour Economy with Emphasis on Digital Skills

08/04/2025
telecommunications

Cameroon Fines MTN and Orange $4.6 Million for Poor Service Delivery

07/11/2025
Next Post
Kenya News Uhuru Kenyatta

Kenyan President Uhuru Kenyatta approves laws to regulate digital lenders

Tauriq-Keraan-CEO-TymeBank Tech Gist AFrica

TymeBank, a South African Neobank, has raised $70 million in a Series B extension

MainOne Equinix

Equinix is acquiring MainOne in Nigeria for $320 million as part of its expansion into Africa

No Result
View All Result

The Big 5

African tech ecosystem

Africa’s Growing Role in Global Tech Partnerships: Collaboration with Silicon Valley and Beyond

by Tech Gist Africa
08/25/2025
0

...

MEST Africa Challenge 2025

Applications Open for 7th MEST Africa Challenge

by Tech Gist Africa
08/19/2025
0

...

African Startups

South Africa’s Female-Led Startups Invited to Apply for Innovest Ignite Accelerator

by Tech Gist Africa
08/19/2025
0

...

african tech startup

Airtel Africa Foundation Launches ‘Tech For Her’ to Upskill African Women

by Tech Gist Africa
08/19/2025
0

...

Africa startup entrepreneurshipAfrica startup entrepreneurship

Global Startup Ecosystems: Key Drivers of Innovation in Emerging Markets

by Tech Gist Africa
08/18/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.