GreenTec Capital Partners has announced its investment in Pricepally, an innovative digital Nigerian wholesale platform allowing users to purchase food and other products either individually or as a part of a group.
Launched in November 2019, the start-up’s aim is to cut out middlemen and save consumers money by leveraging technology to aggregate demand via a sharing model.
A novel feature of the Pricepally platform is a social component which allows users to make purchases as groups for even deeper savings. To date the platform has grown substantially driven, in part, by increased demand created by the global pandemic. Pricepally’s ambitious plans are to re-imagine the food system in Africa, by connecting relevant stakeholders through their platform and building out the infrastructure to reach more Nigerians. Currently, Pricepally is available in the Lagos area and offers 1-2 day delivery on orders.
Maxime Bayen, Senior Company Builder at GreenTec Capital Partners: “At the origin of Pricepally was the deep desire from a group of people to allow households to access essential and quality food at more affordable price. We, at Greentec Capital, are thrilled to be supporting this team of young, brilliant and gender balanced co-founders on such an important mission !”
“At Pricepally we are excited about our collaboration with GreenTec Capital, we see this as a significant step in achieving our vision of a sustainable food system for urban African cities. We are very aware of the huge challenge ahead but we are also very confident in this partnership and we look forward to the future,” Luther Lawoyin the CEO of Pricepally said.
This year alone, GreenTec has invested into Kenya’s Ecodudu an innovative waste-to-value company producing high-quality insect-based protein for animal feed and organic fertilizers from recycled organic matter.
Ghana’s Sumundi, a retail management startup raises funding from GreenTec Capital to help retailers manage, grow, and sustain their businesses. Sumundi’s retail management platform aims to facilitate and promote Africa’s retailers with a suite of services to help run and grow a business.
Greentec also invested into Kenya’s Amitruck, a mobile and web-based trucking logistics platform that brings together cargo owners and transporters. This year, GreenTec also invested into Kwiks, a Moroccan rapid personnel sourcing startup.