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Nigeria-based B2B ecommerce retail startup Alerzo has raised USD 10.5 million Series A round led by London-based Nosara Capital.
In total, Alerzo has raised more than USD 20 million since its launch. Early investors include the Baobab Network, an Africa-focused accelerator based in London, and Signal Hill, a Singapore-based fund manager that participated in its USD 5.5 million seed round last year. The company also said it closed a USD 2.5 million working capital facility to serve its customers.
Alerzo’s core business distributes FMCG goods using a first-party relationship platform which allows suppliers to clear inventory faster and lets Alerzo control the supply chain and delivery.
Alerzo claims to have built up a network of up to 100,000 small businesses, 90% of which are women-led. The company exclusively serves the country’s tier-2 to tier-4 cities in Southwest Nigeria — Ibadan, Ekiti, and Abeokuta, to name a few. It connects retailers to local and multinational distributors of consumer brands, like Unilever, Nestlé, Procter & Gamble, Dangote, and PZ.
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