Description
Vendease is an eco friendly marketplace that allows restaurants and other food businesses in Africa to buy directly from farms and food manufacturers. On the Vendease platform, businesses can order all their food supplies at the best possible prices.
Market Opportunity/ Problem
Vendease solves the problem of unreliable, expensive supply (between farms and restaurants) by guaranteeing 24hr delivery at the cheapest possible prices and providing short-term floats to finance these transactions. The company’s platform digitizes the entire procurement process that was 100% analog. On Vendease, farmers now have a direct route to market where they can deal with restaurants directly instead of having to go through middlemen/gatekeepers.
Company Information
Years of operation
1
Type of organization
Private company
Stage of the business
Early stage/ Startup
Agribusiness focus
Enabling (Digital agriculture/aggregation platforms)
Agriculture value chain(s) focus?
Other
Primary country of operation
Nigeria
Other country(ies) of operation
How many employees does your business have?
75
Does the business have more than 30% women ownership?
No
Does the business have more than 30% youth ownership (under 35 years)?
Yes
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
>1m
What is the split between equity and debt?
100% equity