Well, er ... / When have I ever written about finance in Africa?! I'm supposed to be the world's foremost financial shaman, dear reader(s). Yes, shaman of the world! You dig? 'You may have written about South Africa at some point, boss.' Really, Voice? 'I don't know. We'll have to go through the archive and check.' Oh, don't bother, son. Let's just do this -
LAGOS - Apr. 26, 2018 - TradeDepot, the innovative SaaS platform for FMCG distribution in Africa, announced today $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 successfully developed 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.
Okay. It's a PR email from Partech, I think. We've had a few of those. 'We used to get a lot from the Bubbles deVere Group. What happened to those guys?' I don't know, man. Maybe they didn't like our style. It happens. 'And what about those Coutts? What happened to them?' Christ! I really don't know. Jinksy is still sending his emails though. 'Ha!' Oh, he's all right, Voice. He's just misunderstood. 'Ha!' The man has a great love of parcels. Leave him alone. / Anyway ...
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 which are then delivered to them as the order is routed to the appropriate nearby depot. At the same time, manufacturers have full visibility over their distribution and can leverage the platform to optimize deliveries to their distributors, improve their pricing and have a direct channel towards their end-retailers.
Oh, okay. That's nice - if you're into that sort of thing. / So, is it the ENDS? 'We haven't heard from Onyekachi Izukanne yet.' Oh. What does he want? 'The usual.' Have we got time for this? 'Yeah. Come on, boss.' Okay ...
"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. "For a very long time, consumer goods distribution in emerging countries with millions of small and informal retailers at the end of the supply chain has been very poorly addressed by existing tech platforms. We want to change this status quo: in Nigeria alone, this $340bn market loses more than $4bn every year due to a lack of visibility and the resulting waste in logistics, making retailers in African countries subject to some of the highest product distribution costs in the world. Our goal is to enable every convenience store in Africa to consistently receive their supplies at the best possible prices; to be THE supply partner for Africa's retail outlets".
Right. Thank you, Onyekachi. ENDS.
...
Anything else? I can't think of anything, no. I'll be writing a conceptual after lunch and into the evening, reader(s), spinner(s), but you probably guessed that. 'They're real sharp, Mikey.' Of course they are!
I'll just leave you with this. Remember, you are not a candle!
Laters.
LAGOS - Apr. 26, 2018 - TradeDepot, the innovative SaaS platform for FMCG distribution in Africa, announced today $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 successfully developed 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.
Okay. It's a PR email from Partech, I think. We've had a few of those. 'We used to get a lot from the Bubbles deVere Group. What happened to those guys?' I don't know, man. Maybe they didn't like our style. It happens. 'And what about those Coutts? What happened to them?' Christ! I really don't know. Jinksy is still sending his emails though. 'Ha!' Oh, he's all right, Voice. He's just misunderstood. 'Ha!' The man has a great love of parcels. Leave him alone. / Anyway ...
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 which are then delivered to them as the order is routed to the appropriate nearby depot. At the same time, manufacturers have full visibility over their distribution and can leverage the platform to optimize deliveries to their distributors, improve their pricing and have a direct channel towards their end-retailers.
Oh, okay. That's nice - if you're into that sort of thing. / So, is it the ENDS? 'We haven't heard from Onyekachi Izukanne yet.' Oh. What does he want? 'The usual.' Have we got time for this? 'Yeah. Come on, boss.' Okay ...
"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. "For a very long time, consumer goods distribution in emerging countries with millions of small and informal retailers at the end of the supply chain has been very poorly addressed by existing tech platforms. We want to change this status quo: in Nigeria alone, this $340bn market loses more than $4bn every year due to a lack of visibility and the resulting waste in logistics, making retailers in African countries subject to some of the highest product distribution costs in the world. Our goal is to enable every convenience store in Africa to consistently receive their supplies at the best possible prices; to be THE supply partner for Africa's retail outlets".
Right. Thank you, Onyekachi. ENDS.
...
Anything else? I can't think of anything, no. I'll be writing a conceptual after lunch and into the evening, reader(s), spinner(s), but you probably guessed that. 'They're real sharp, Mikey.' Of course they are!
I'll just leave you with this. Remember, you are not a candle!
Laters.
