Vendease operates a food procurement platform that shifted from a pure marketplace to buying discounted products in bulk, warehousing them, and delivering to restaurants and food businesses via third‑party logistics. Its stack includes inventory management, warehousing, logistics and embedded financing (BNPL via partner banks) aimed at moving food efficiently from production to consumption. The platform serves more than 2,000 customers and reports having moved approximately 400,000 metric tonnes of food. Vendease says it has helped customers save about $2 million in procurement costs, nearly $500,000 in wastage, and over 10,000 person‑hours, while cutting delivery times from 24 to 12 hours. Businesses have accessed more than $12 million in inventory via the embedded finance product; revenue has grown 5x over the past year, though the company has not yet monetized its lending business. Vendease plans to deepen operations, consolidate its presence across eight cities in Nigeria and Ghana, expand into new markets, and build new products to increase customer efficiency. Vendease operates an online marketplace that connects suppliers and farms with restaurants and other food businesses, matching orders to suppliers based on price and quality. The company has built an operational technology stack — logistics, storage, payments, inventory management and embedded finance — to control movement of food supplies and offer delivery within 24 hours via its own or third-party logistics. It enforces quality-control measures at delivery and in warehouses and offers free replacement for any unsatisfactory orders. Vendease provides predictive price analysis and storage solutions to help customers hedge against Nigeria’s volatile food inflation. Financially, the company reported an annualized transaction volume of $12.9M and $1.2M in annual recurring revenue, with revenue growth of 17x year-over-year; over 1,000 businesses have accessed more than $3M in supply-chain finance. Operational metrics include roughly 100,000 metric tonnes moved, approximately $480,000 saved for customers in the last nine months, and about 5,000 person-hours saved. Vendease plans to use funding to expand into additional cities and other countries before the end of Q1 next year, continue building its tech stack, and deepen financial products such as buy-now-pay-later through partnerships with payment platforms and banks.

Total raised

$33M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Sep 2022