Nigerian Logistics Startup Renda Raises $1.9 Million in Pre-Seed Funding Round

Nigerian Logistics Startup Renda Raises $1.9 Million in Pre-Seed Funding Round
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Renda, a Nigerian logistics startup, has secured $1.9 million in a pre-seed funding round aimed at expanding its end-to-end fulfilment solutions throughout Africa.

Led by Ingressive Capital, the $1.3 million equity investment saw participation from notable backers such as Techstars Toronto, Founders Factory Africa, Magic Fund, Golden Palm Investments, Reflect Ventures, and Vastly Valuable Ventures. Additionally, Founders Factory Africa and SeedFi contributed a $600,000 debt investment to the funding round.

The investment will primarily be allocated to enhancing Renda’s technological infrastructure, facilitating expansion into new cities across Nigeria and East Africa, and strengthening its network of partnerships across all operational markets.

Ope Onaboye, CEO and Co-Founder of Renda, expressed gratitude for the investors’ support and outlined the company’s vision to become the leading fulfillment partner for e-commerce and major businesses across Africa. He emphasized Renda’s commitment to leveraging technology to streamline order fulfillment and retail distribution for businesses continent-wide.

Maya Horgan Famodu, Founder and Partner at Ingressive Capital, underscored the strategic significance of partnering with Renda. She highlighted Renda’s innovative technology solution, which addresses critical needs within the African manufacturing and e-commerce ecosystems, offering seamless access to fulfillment infrastructure. Famodu expressed confidence in Renda’s ability to revolutionize logistics and storage across Africa, creating opportunities for businesses to thrive.

Established in 2021 by Ope Onaboye and Bimbo Onaboye, Renda is a technology platform that aggregates and provides access to end-to-end infrastructure, optimizing order fulfillment and facilitating seamless business scalability across Africa.

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