Nigerian Pricepally Raises $1.3M for Strategic Expansion and Food Revolution

Nigerian Pricepally Raises $1.3M for Strategic Expansion and Food Revolution

By Staff Writer, 21 November 2023

Nigerian startup Pricepally, a thriving e-commerce platform specializing in fresh and packaged foods, has successfully raised $1.3 million in seed funding.

This financial injection is poised to propel the company into a phase of strategic expansion.

Founded in 2019 by Luther Lawoyin, Jumai Abalaka, Deepak Bansal, and Monsunmola Adefemi, Pricepally distinguishes itself by sourcing farm-fresh produce and efficiently distributing it through its innovative e-commerce platform.

The platform serves as a vital bridge between producers and consumers, ensuring not only top-tier quality but also competitive pricing. This unique approach creates a mutually beneficial scenario for all stakeholders involved.

The recent $1.3 million seed round was led by a group of prominent investors, including Samurai Incubate, SOSV, ELEA, Hi2 Global, Chui Ventures, and David Mureithi, the former Managing Director of Unilever West Africa.

With this injection of capital, Pricepally is set to expand its geographical footprint, targeting new cities and fostering growth in existing markets such as Lagos, Abuja, and Port Harcourt.

The funding will also be directed towards technological enhancements, optimizing end-to-end operations, introducing innovative consumer features, and nurturing the burgeoning business-to-business (B2B) markets that Pricepally engages with.

This funding milestone marks a significant step forward for Pricepally, signifying not only investor confidence but also the potential for further disruption and growth in the dynamic landscape of e-commerce and food distribution in Nigeria.

Tom Jackson / Disrupt Africa

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