Venture capital firm, Partech partners have led a $3 million Series A investment in TradeDepot, an innovative SaaS platform for FMCG distribution in Africa
TradeDepot, which was founded in 2016, has developed a solution for various participants in manufacturing and trade. From manufacturers, distributors and retailers, the solution has caught the eye of some first rank FMCG companies and has been deployed all over the country in distributors’ warehouses.
TradeDepot enables retailers to keep track of all prices and discounts available from major brands in the country, and beyond, in real-time. Also, they can order products directly from their platform which then routes the order to the appropriate nearest depot. On the other hand, manufacturers have access to oversee their distribution. This would enable them optimize deliveries to their distributors, improve pricing and have a way to connect to their end retailers.
Speaking on the investment, Onyekachi Izukanne, co-founder and CEO of TradeDepot said, “This first external funding round was critical for us: we have proven that there is a strong demand for such a distribution platform among consumer goods companies and retailers in emerging markets, and we now wish to use these funds to support our growth strategy,”
He also says that the goal of TradeDepot is to” enable every convenience store in Africa to consistently receive their supplies at the best possible prices; to be THE supply partner for Africa’s retail outlets”.
While on his own side, Tidjane Deme, General Partner at Partech confirmed why they invested in TradeDepot. “At Partech, we are strong believers in tech platforms that digitize the huge informal markets that are present in Africa. TradeDepot is one of them: they are addressing the largest market in Africa, that is today 98% informal and 99% offline. The opportunity there is massive.”
