Africa’s first social and video commerce platform, Rabawa, introduced in the present day that it has raised $163,000 from Aptive Capital, a VC agency within the USA that’s centered on supporting early-stage startups. Rabawa’s social and video commerce answer supply resellers the chance to leverage social media for curating, selling, and promoting merchandise from Producers / Distributors to end-users. Rabawa provides resellers entry to a digital store and hundreds of merchandise from trusted suppliers.
Via using social and video commerce, closely discounted costs, and a streamlined logistics chain, Rabawa gives the bottom costs to internet buyers on the continent. It provides African housewives, college students, youths, and aspiring entrepreneurs the chance to shortly and simply launch their on-line companies with zero capital funding or stock. The platform connects resellers and enterprise homeowners to high producers and wholesalers throughout Africa, Asia, the USA and UK.
Because the official rollout of the pilot mannequin on April 1st, Rabawa has caught the eye of key gamers within the native e-retail trade and continues to draw one of the best of abilities to take its enterprise mannequin ahead. Over 5,000 resellers and 1,000 suppliers are at the moment registered on the platform. In response to Olayinka Akinkunmi, COO of Rabawa, “the tempo at which Rabawa has grown inside one month in Nigeria, we will deploy social and video commerce to different African markets”. She additional famous that according to the United Nations Millennium Improvement Objective, Rabawa hopes to empower no less than 1 million unemployed or underemployed Africans by the yr 2023 with their very own companies.
The Managing companion of Aptive Capital, Paul Brandon Gilpin, spoke excitedly concerning the not too long ago secured funding. “At Aptive, we’re out to establish abilities and enterprise fashions that work after which we make investments. We’re very impressed with Rabawa’s deep data of the market and their deliberate strategy to unravel the challenges of unemployment, poor product availability, excessive value of logistics, entry to market points, and poverty throughout Africa.
Because the fund commenced, Aptive Capital has invested in about 8 Startups with Rabawa being the 7th and largest ticket measurement ($163,000) disbursed to this point” he acknowledged. Aptive Capital’s portfolio investments embody startups like OneKiosk, SkyfireDigital, MimiMoney, Emmnoch Farms, Statesman, and Slabdeck who’ve acquired between $10,000 and $50,000 from the funds.
With its new funding spherical of $163,000, Rabawa has formally positioned itself to be develop into a key participant in Africa’s e-commerce house by utilising social and video commerce to construct a sustainable enterprise mannequin that impacts Africa socially and economically.
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