January 24, 2022 All Things Fintech in Africa

KudiGO, a Ghaianian startup, that builds solutions for the consumer retail industry, plans expand to Nigeria .

KudiGo started operations in November 2018, providing an integrated, mobile-based retail, payments, accounting and analytics engine for the consumer retail industry in Ghana and now seeks to provide such services in  Nigeria too.  Over 1,000 businesses have received payments, track inventories and build sound financial models based on past trends with the help of Kudi Go.

The startup has grown its user base substantially from 800 stores in March to over 4,000, with average orders processed ranging over 20,00 having US$ 2.4 million in transaction value.

According to Kingsley Abrokwah, the Chief enabler at KudiGo , to expand its customer base there will be a need to open up new markets, hence the move to open an office in Nigeria.

“We are working with an FMCG company in East Africa to deploy our storefront solution to 10,000 merchants in Q1 2020,” Abrokwah said.

 

The startup is also launching a second product for suppliers and distributors, named RapidGate.

 

“It’s a web and mobile based distribution management system designed for consumer retail distributors, aimed that connecting them with their retailers and enabling value chain accessibility,” said Abrokwah.

 

KudiGO is currently in the process of closing a bridge pre-Series A round worth US$500,000 to finance this growth, which will reach a conclusion in the first three months of 2020.

By developing solutions that improve the way retail services are provided, the startup hopes to empower its fair share of 1.2 billion consumers of retail products on the continent.

 

KudiGO has done very well for itsself, having raised money from two major investment partners: Founders Factory Africa and Hawthorne Capital. After a funding round in April 2019 which closed at US$450,000, the startup shared its plans to launch new products and expand its customer base across Africa.

 

However, KudiGo considers its expansion into Nigeria to be favorable, since Nigeria is home to a huge number of small businesses and retail stores whose owners would find the startup’s smart solutions and inputs to retail operations very useful.

Banner
Related Posts

Paga, Nigeria’s Mobile Money Operator Crosses 1.5 Trillion Naira in Transaction

August 12, 2019

August 12, 2019 1

Paga, Nigeria’s Mobile Money Operator Crosses 1.5 Trillion Naira in Transaction Value Earlier today, the CEO of Paga, Nigeria’s foremost...

PayStack Introduces USD Payouts into Zenith Banks  

December 11, 2019

December 11, 2019 1

Table Of ContentsIntroduction: What’s USDHow Paystack USD settlements works?  Introduction:  PayStack introduced USD settlements which allow Paystack merchants to list...

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020

November 14, 2019

November 14, 2019

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020 Nigeria is one of the countries...

With Wallet you can Upgrade your Daily Personal and Financial Experience

April 25, 2019

April 25, 2019

  Wallet is an app that enables you to make quick financial decisions daily. With ease and convenience, banking has...

Five Online Payment Platforms in Nigeria and How to Use Them

April 5, 2019

April 5, 2019 3

Table Of ContentsIntroduction: What’s USDHow Paystack USD settlements works?I would be writing on Five Online Payment Platforms in Nigeria and...

Zazu Raises $1.4m in an attempt to expand their user base

December 11, 2019

December 11, 2019 1

  Zazu fully started as a digital banking space in 2107.  Previously, Zazu was a platform where farms could connect...

  How to go Cashless with Paga

March 29, 2020

March 29, 2020

 For frequent cash users who are more comfortable with the traditional payment systems, going cashless have built up a sort...

Opay Expands as it launches tricycle hailing service, OTrike in Nigeria

August 25, 2019

August 25, 2019 1

  Introduction The opera company, the Chinese-backed startup is giving other fin tech startups a clear run for their money...

 FlutterWave:  Creating Financial Accessibility With Digital Payment Solutions

September 27, 2019

September 27, 2019

Table Of ContentsIntroduction: What’s USDHow Paystack USD settlements works?I would be writing on Five Online Payment Platforms in Nigeria and...

MOMO, the mobile money service, launched by MTN

September 5, 2019

September 5, 2019 2

On September 29th, 2019, MTN launched its mobile money business MoMo, in Hilton Abuja, Nigeria. The mobile money will allow...

6 Facts About Paystack Nigeria You Never Knew Before

April 19, 2019

April 19, 2019 2

6 Facts About Paystack  Nigeria You Never Knew Before As the new kid on the block when it comes to...

Paypal Launches Xoom in the African market

August 25, 2019

August 25, 2019

  PayPal in 2015 brought xoom, a money transfer company which now serves 33 African countries from about 30 European...

Chipper -Cash Expands to Nigeria

October 22, 2019

October 22, 2019

  Introduction:  Chipper-cash, the n0-fee, cross border payment startup has expanded to Nigeria.  It is based in San Francisco, with...

Top 10 Interesting facts about Interswitch Nigeria

April 11, 2019

April 11, 2019 1

Top 10 Interesting facts about Interswitch Nigeria Today many payment processing companies exist, but Interswitch Nigeria has made an incredible...

Carbon, formerly Paylater now charges One Percent Transaction fee.

August 25, 2019

August 25, 2019 1

  Introduction Carbon, the lending platform formerly known as paylater started an app which not only allows one to borrow...

Comments
Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.