Rabawa, Nigeria’s social ecommerce platform has raised $163,000 fund from Aptive Capital, a venture capital firm based in the US that supports startups in scaling the digital innovations that have a high social impact on the community around them.
The platform was created with an objective to support African entrepreneurs leverage social media for curating, promoting, and selling their products to end users.
Their model of business offers entrepreneurs access to a virtual shop and thousands of products from trusted suppliers, then acquire products through a manufacturer or wholesale supplier and sell them to interested customers after adding a margin.
Rabawa has a huge selection of products in different categories like clothes, cosmetics, and household items. There are over 100 categories of products to choose from and the most popular categories include cosmetics, jewelry and accessories.
The platform enables users to start earning online without any investment. The entrepreneurs do not need to own a shop or inventory to become successful in business.
The platform connects resellers and business owners to top manufactures and wholesalers in Africa,Asia,USA and Uk.
Paul Brandon Gilpin, managing partner at Aptive said that their firm is out to identify talents and business models that work and then they invest. He said that they are impressed with Rabawas deep knowledge of the market and their planned approach to solve challenges of unemployment, poor product availability, high cost of logistics, access to market issues, and poverty across Africa.
Apart from Rabawa, Aptive capital has invested in close to 8 other startups Rabawa being the seventh and biggest ticket size at $ 163,000.
Rabawa has been in operation since 1st April 2021 and so far 5000 resellers and 1000 suppliers are already registered on the program.
The company which was started in Nigeria one month ago has grown at a rapid pace thus attracting key players in the e-retail sector and the best talent to take up its business model.
Olayinka Akinkunmi,chief operating officer at Rabawa said following the pace at which Rabawa has grown within one month in Nigeria, the company will be able to deploy social and video commerce to other African markets.
Rabawa operates in line with United Nations Development Goals and thus they hope to empower at least 1 million unemployed or underemployed Africans by the year 2023 with their own businesses.