Description
Freshbag is a digital procurement platform connecting Farmers and FMCG suppliers to thousands of informal retail businesses across Cameroon. It helps informal retail businesses source inventory from Farmers and FMCG suppliers at the most competitive prices, access 30 days working capital credits and manage their last mile delivery logistics needs.
Market Opportunity/ Problem
There are more than 1 million informal food businesses in cities across Cameroon responsible for 80% of the food mass distribution to millions of citizen while making less than US$5 per day, those earnings have been further eroded due to Covid19’s impact putting the country’s food security at risk. Freshbag is building an enabling environment for informal food retail businesses to thrive using technology and big data in order to fight food insecurity, poverty and gender inequalities
Company Information
Years of operation
3
Type of organization
Private company
Stage of the business
Early stage/ Startup
Agribusiness focus
Enabling (Digital agriculture/aggregation platforms)
Agriculture value chain(s) focus?
Food crops
Primary country of operation
Cameroon
Other country(ies) of operation
N/A
How many employees does your business have?
10
Does the business have more than 30% women ownership?
Yes
Does the business have more than 30% youth ownership (under 35 years)?
Yes
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
500k-1m
What is the split between equity and debt?
60% Debt and 40% Equity