TradeDepot, the innovativeSaaS platform for FMCG distribution in Africa, recently announced $3 million in funding. Partech’s recently launched Africa Fund led the Series A round which will support the expansion of TradeDepot’s footprint in Nigeria and development in other countries. Since its founding in 2016, TradeDepot has successfullydeveloped a 360° solution integrating all participants in the trade value chain: manufacturers, distributors and retailers.The solution quickly convinced first rank FMCG companies and has been deployed all over the country in distributors’ warehouses. This first external funding round of investment will enable the team to drive aggressive product development and further deployment of the solution among FMCG companies and their customers.
Through TradeDepot’s platform, small retailers have a real time view of all prices and discounts available from every major brand; they can directly order products, whichare then delivered to them as the order is routed to the appropriate nearby depot. At the same time, manufacturershave full visibility overtheir distribution and can leverage the platform to optimize deliveries to their distributors, improve their pricing and have a direct channel towards their end-retailers. “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,” said Onyekachi Izukanne, co-founder and CEO of TradeDepot.