Rabawa, Africa’s first social and video commerce, secures $163,000 from Aptive Capital
Rabawa, Africa’s first social and video commerce, secures $163,000 from Aptive Capital
Rabawa, Africa's first social and video commerce platform, announced today that it has raised $163,000 from Aptive Capital, a venture capital firm based in the United States of America focused on early stage startups. RABAWA's social and video commerce solutions enable resellers to use social media to curate, promote, and sell products from manufacturers and distributors to end users. Rabawa provides resellers with a virtual storefront and access to thousands of products from reputable suppliers.
Rabawa offers the lowest prices to online shoppers on the continent through the use of social and video commerce, heavily discounted prices, and a streamlined logistics chain. It enables African housewives, students, youth, and aspiring entrepreneurs to launch their online businesses quickly and easily with NO capital investment or inventory. The platform connects resellers and business owners with leading manufacturers and wholesalers in Africa, Asia, the United States of America, and the United Kingdom.
Rabawa Attracted A Lot of Key Players
Since the official launch of the Pilot model on 1st April 2021, Rabawa has attracted the attention of key players in the local e-commerce industry and has continued to attract the brightest minds to advance its business model. The platform currently has over 5,000 resellers and 1,000 suppliers registered. Rabawa's pace, according to Olayinka Akinkunmi, COO, is too promising to go unnoticed. According to her, "at the rate at which Rabawa has grown in Nigeria over the last month, we will be able to scale social and video commerce to other African markets." Additionally, she stated that Rabawa hopes to empower at least 1 million unemployed or underemployed Africans with their own businesses by 2023, in accordance with the United Nations Millennium Development Goal.
Paul Brandon Gilpin, managing partner of Aptive Capital, spoke enthusiastically about the recently secured investment. “At Aptive, we seek out and invest in proven talent and business models. We are extremely impressed with Rabawa's in-depth market knowledge and strategic approach to addressing the challenges of unemployment, low product availability, high logistics costs, market access issues, and poverty across Africa.
Aptive Capital
Aptive Capital has invested in approximately eight startups since the fund's inception, with Rabawa being the seventh and largest ticket size ($163,000) disbursed thus far,” he stated. Aptive Capital's portfolio investments include startups such as OneKiosk, SkyfireDigital, MimiMoney, Emmnoch Farms, Statesman, and Slabdeck. Although unconfirmed, several recent business moves indicate Aptive Capital's interest in OneKiosk's currently undisclosed funding round.
Rabawa has positioned itself to become a key player in Africa's e-commerce space with its new $163,000 funding round powered by Aptive Capital, by leveraging social and video commerce to build a sustainable business model that benefits Africa socially and economically.
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