TradeDepot raises US$10-million from Partech, IFC, WeFi and MSA Capital

TradeDepot has raised US$10-million in equity from a consortium of investors which comprise of Partech, IFC, Women Entrepreneurs Finance Initiative (WeFi) and MSA Capital. TradeDepot is an ecommerce platform of consumer goods that are traded between local small businesses. The company was established in 2016 and has a large network of more than 40,000 small businesses to business traders based in Nigeria. The diverse product ranges are sourced from multinational producers such as Unilever, Danone and Nestle among many others. The equity funding raised which be used to further integrate the logistics technology in Nigeria.

TradeDepot was founded by Onyekachi Izukanne, Michael Ukpong and Ruke Awaritefe who have worked together over the last 15 years in other successful startups. They co-founded SocketWorks, an IFC funded edtech startup and they were also instrumental in the establishment of C2G Consulting, a technology consulting business that grew to become a leading SAP consulting house in West Africa with over $40m earned in revenues.

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