Nigerian social and video commerce platform Rabawa has secured US$163,000 in funding from US-based VC firm Aptive Capital to help scale its operations.
Launched in 2021 and offers resellers access to a virtual shop with the opportunity to leverage social media for curating, promoting, and selling products from Manufacturers / Distributors to end-users.
Through the use of social and video commerce, heavily discounted prices, and a streamlined logistics chain, Rabawa provides affordable prices to different categories of products to online shoppers in the continent.
With over 5,000 resellers and 1,000 suppliers currently registered on the platform.
The platform connects resellers and business owners to top manufacturers and wholesalers across Africa, Asia, the USA, and the UK.
Most of its clientele are housewives, students, youths, and aspiring entrepreneurs who can begin an online business from home with an internet-enabled phone.
According to the Chief Operating Officer of Rabawa, Olayinka Akinkunmi, “the pace at which Rabawa has grown within one month in Nigeria, we will be able to deploy social and video commerce to other African markets”.
She further notes that in line with the United Nations Millennium Development Goal, Rabawa hopes to empower at least 1 million unemployed or underemployed Africans by the year 2023 with their businesses.
Since the fund commenced, Aptive Capital has invested in about 8 Startups with Rabawa being the 7th and biggest ticket size ($163,000) disbursed so far” he stated.
“At Aptive, we are out to identify talents and business models that work and then we invest. We are very impressed with Rabawa’s deep knowledge of the market and their planned approach to solve the challenges of unemployment, poor product availability, high cost of logistics, access to market issues, and poverty across Africa.’’ Paul Brandon Gilpin, the Managing partner of Aptive Capital, said.
Aptive Capital’s portfolio investments include startups like One Kiosk, Skyfire Digital, MimiMoney, Emmnoch Farms, Statesman, and Slabdeck who have received between $10,000 and $50,000 from the funds.
