Vendease Analysis: $3M Raised
What is Vendease?
Vendease operates as a food supplies marketplace in Nigeria and Ghana, offering over 8000 items. The platform provides free same-day delivery and buy now, pay later options, catering to both food businesses and individual consumers.
Location
Edward Hotonu Street, Lekki phase 1, Lagos, Nigeria
Employees
201-500
Founded
2019
Revenue
$24.7M
Business Model
Subscription-based model with transaction fees on processed payments.
Investors
- Partech Africa
- TLcom Capital
Product Features & Capabilities
- food supply marketplace, over 8000 items available, free same-day delivery, buy now pay later options, integrated payments, product catalog with over 3000 supplies, reports and analytics for better decision-making, inventory management, staff management, order processing automation.
Pricing
- Standard Plan: $20/month (N30,000) for up to 3 users.
- Additional users can be added for $5/month (N7,500) each.
- Includes one complimentary POS device.
How much Vendease raised
Seed - $3.2 million
October 25, 2021Lead Investor: Global Founders Capital, Hack VC, Soma Capital
Who are the founders of Vendease
Market Focus
Vendease primarily focuses on the food procurement industry, specifically simplifying the supply chain for food businesses in Africa by enabling direct orders from farms and food manufacturers.
Competitors Overview
Vendease operates in the food procurement market in Africa and faces competition from several notable companies. The main competitors include:
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TradeDepot: Founded in 2015, TradeDepot provides software solutions for B2B manufacturers and retailers, focusing on stock redistribution. It has raised $123 million in funding, making it a significant player in the market.
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Alerzo: Established in 2018, Alerzo offers software solutions for informal distribution in retail, with $20 million in funding.
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ORDA: A cloud-based software solution provider for the food business, ORDA focuses on order processing and customer engagement, primarily serving the restaurant industry.
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Awesome Fresh: This company specializes in agricultural logistics, ensuring a consistent supply of farm produce to the food supply chain.
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Kaso: A B2B supply management platform that streamlines the ordering process for restaurants and suppliers through a mobile app.
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Choco: A technology company that digitizes the order process for the food supply industry, providing a platform for managing orders.
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NetFoods: Offers digital procurement solutions for the food service industry, digitizing the purchasing process.
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Daxlinks Global: A fintech company focused on asset management and financial services.
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Star Kitchens Group: Provides cloud-based restaurant software tailored for African chefs and food business owners.
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Eze: Operates as a B2B wholesale marketplace, primarily for electronics, which differentiates it from Vendease's focus on food.
Notable differences include Vendease's emphasis on financing procurement, which may provide a unique advantage in managing supply chains compared to its competitors. Additionally, Vendease has raised a total of $33.3 million in funding, indicating stronger financial backing compared to some competitors.
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