Nigerian digital e-commerce platform for African sellers Bumpa, has recently secured $4 million in its seed round.
The seed round was led by Base 10 partners with participation from Magic find, Plug & Play Ventures, DFS Labs, SHL Capital, Jedar Capital, FirstCheck Africa Angel Program, E62 Ventures, Club 14, and Fast Forward Ventures.
The startup disclosed that for its seed round, it chose investors who are interested in e-commerce and retail automation in Africa, as it intends to use the $4 million seed secured to solve the inefficiencies small businesses face.
Speaking on the recent seed secured, co-founder and CEO of Bumpa Kelvin Umechukwu said, “With Bumpa, we’re helping business owners organize all the commerce that’s happening on their social media. They can see their top customers.
“They can see how much they’re making on each of these social media platforms, like Instagram. They can collect all the records, and they can sell faster through direct messaging (DMs) and requests for payments because we brought all of the commerce tools right there for them in their DMS while chatting with a customer. Bumpa currently estimates that it can help its users save 25 hours each week”
With the social commerce space in Nigeria highly competitive, Bumpa disclosed that its competitive advantage over all other startups stems from its emphasis on retail automation and optimization of data and inventory for its clients which is not evident in most of these startups.
Since its launch in 2021, the startup disclosed that it has so far onboarded over 7,000 merchants on its platform including retail businesses like The Ajala Store and Lash Ng, which it also claims to have recorded a 50% Month-on-Month (MoM) growth rate.
Bumpa seems not to be resting on its oars as it strategically plans to attract more small business owners to make use of its platform, providing them with tools to grow their businesses.
Investors King understands that with Bumpa’s gradual elimination of problems faced by small businesses, Nigeria’s economy will witness a positive impact, due to the role that these SMEs play in the development of a nation’s economy.
