Nigerian startup Rísé.ng secures US$150k pre-seed funding to launch in Nigeria

NIGERIA – Nigeria-based E-commerce Rísé.ng, has raised US$150,000 in a pre-seed round as it prepares to establish its operations in the country.

Rísé.ng was founded in 2019 by Olawunmi Oyedeji to revolutionize service delivery by focusing on low-income earners, notably artisans and sellers who do not have access to digital/online awareness.

The startup will use the funds to launch in Nigeria and expand its user base.

It generally provides artisans/vendors who use its platform with a dashboard that allows them to advertise and promote their services or products using a secure finance layout.

The layout makes payment simple and secure, while the user works with an authenticated vendor/artisan who is covered by insurance in the event of unforeseen circumstances.

Rísé focuses on small business owners and suppliers, especially those with little or no social media presence.

The platform was inspired by ‘Try My Job,’ a reality TV show in which celebrities exchange occupations with their followers for a day, offering a platform for small businesses to showcase their goods and services.

Risé makes use of this to offer the best selection of artists and vendors for anyone’s daily requirements.

The plan to launch its operations comes at a time when technological disruption is sweeping the globe, affecting everything from the way we learn to the way we obtain medical advice and the way people shop.

E-commerce platforms provide customers with a plethora of possibilities for marketing their business and generating traffic, revenue, and leads.

All users have to do is look at what’s in their marketing funnel and make the best decisions possible.

Online platforms assist gifted rural artists in maintaining their livelihood, whether it is expanding their reach for their works or negotiating a better price for their goods.

The next phase of e-commerce has come, propelled by an increasing number of small firms moving their operations online.

A slew of e-commerce start-ups is assisting shops in establishing an online existence and establishing a brand.

The increasing population in Africa which brings along increased demand for goods and services has given rise to online e-commerce.

The E-commerce industry in Africa has accumulated US$55.4M in funding in Q1’22 recording a massive growth of 941% compared to Q1’21.

The industry made a massive leap of 5 spots from last year, securing 5th position among the top 10 most funded industries in Africa in Q1’21.

The lion’s share of investment was recorded by Egypt-based social commerce platform Brimore raising US$25M in the Series A round.

In terms of deals, the E-commerce sector managed to secure a spot in the top 3, recording 20 deals in Q1’22.

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