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Nigerian B2B eCommerce and embedded finance platform, TradeDepot has acquired Ghanaian Green Lion, another eCommerce platform to accelerate the delivery of its service across the country.
TradeDepot aims to build on the Ghanaian firm’s data, technology and robust logistics operations to connect more neighbourhood retailers in more Ghanaian cities to reach suppliers as well as enhance accessibility and affordability to finance.
The development is expected to see Green Lion team join TradeDepot to support the mission of making food available and cheap in rural areas
What they are saying about the acquisition
Onyekachi Izukanne, CEO and co-founder of TradeDepot while commenting on the acquisition said Ghana represents a significant market for consumer goods in Africa.
He said, “We are excited to bring the Green Lion team onboard to drive growth and prosperity for more retailers and distributors in the country. We look forward to deepening our relationship with the market and working with more partners to maximise the opportunities that abound in Ghana and beyond.”
Jorge de Rojas from Green Lion said, “We are delighted to be joining the TradeDepot family and continuing our work to help neighbourhood retailers across Africa thrive. It is an exciting time for B2B ecommerce in Africa and we are thrilled by the opportunity to drive more value in the Ghanaian ecosystem and all over the continent.”
He also added that TradeDepot will take on all existing Green Lion Africa relationships and assets in Ghana, adding that Green Lion team will also be joining TradeDepot to support the mission to build the future of retail and make food and supplies more accessible and affordable for even the most remote consumers on the continent.
What you should know
TradeDepot Inc connects consumer goods brands in Africa directly to a target market across the continent by creating a proprietary risk scoring engine that uses retailers’ purchase history, previous repayment performance and other related data points to predict their creditworthiness.
The startup raised $10 million in a pre-Series B equity funding to expand into other African cities in 2020
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