NIGERIA – Ghana-based startup Tendo, an online business platform has launched in Nigeria after securing the backing of heavyweights from Catalyst Fund, Google, and Y Combinator.
Launched last year, Tendo has developed a mobile app that connects dropshippers to local wholesalers.
Tendo enables sellers to source products and resell items using social commerce tools such as WhatsApp, arrange delivery, and get paid.
The startup is already working with thousands of merchants in Ghana, and it has now opened its doors in Nigeria.
The platform will use the financial backing to facilitate the expansion in the West African country.
Tendo was founded by Manford who initially built an influencer marketing platform called Hashfyre to help young social media users earn an income by partnering with brands on micro-influencer campaigns.
He noticed that most users of Hashfyre had more interest in starting a business but struggled to raise initial capital.
“At the moment, people who want to sell online need to save money, visit hundreds of suppliers to find a trusted one, and risk losing their capital by stocking up inventory,” said Felix Manford, the startup’s co-founder, and CEO.
Manford also learned that social media had become the preferred shopping channel for many consumers in Africa, an estimated 32 percent of all e-commerce in Africa was happening on Facebook.
Tendo was launched from that idea and the startup has been on a strong growth trajectory, tackling the lack of trust amongst African consumers when it comes to shopping online.
The startup currently is addressing this market gap by shaping digital commerce in Africa by putting selling power in the hands of everyday users.
Tendo runs a marketplace model, taking a percentage of each order processed on the platform. Suppliers can also pay for ad placements on the app to boost the visibility of their products.
The platform has appointed Chisom Ukaegu as the new country manager in Nigeria to spearhead its operations and growth.
“With the young demographics making up more than one-third of Nigeria’s growing population, Tendo’s entry into Nigeria is the logical next step as we work towards building the largest reselling platform in Africa,” said Chisom Ukaegu.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE
