Nigerian startup Betastore has closed a $2.5 million pre-Series A funding round, with plans to launch operations in Ghana, the Democratic Republic of Congo, and Cameroon by December 2022. The financing came from 500 Global, VestedWorld, and Loyal VC, bringing the company's total fundraising to $3 million since its 2020 inception.
The investment highlights the platform's role in connecting informal traders directly to FMCG manufacturers and distributors. This model eliminates reliance on sales agents, reducing costs while ensuring same-day delivery through logistics partnerships.
500 Global's Amit Bhatti emphasized the platform's potential, stating, "Betastore's team is creating market efficiencies that could transform retail operations. Their solution provides merchants with real-time inventory visibility and pricing transparency."
CEO Steve Dakayi-Kamga outlined expansion goals, including entry into 100 cities across Nigeria, Ivory Coast, and Senegal. The company also plans to launch a financing service in July following a 2021 pilot with 200 retailers.
"Our technology allows retailers to order on demand without closing their stores," Dakayi-Kamga said. "This reduces logistics costs by up to 50% while expanding product access." The platform currently serves over 1,500 merchants in Nigeria.
