DEAL: Nigerian startup, ShopEx raises $635,000 pre-seed funding led by HAVAìC

Nigeria’s multi-channel retail business, ShopEx has secured $635,000 pre-seed funding in a round led by South African Venture Capital firm, HAVAìC. The startup says the investment will strengthen its mission to bring ‘teleshopping’ to the everyday life of Nigerians by creating direct-to-consumer live shopping experiences.

Founded in 2018 by Isi Abebe and advised by Expert Media Partners (EMP), ShopEx digitises and integrates the customer journey across numerous channels or platforms, from television to Instagram, to improve customer engagement and sales conversions.

The company mobilises a combination of traditional and digital channels to market, sell, and distribute some of the world’s most successful ‘As Seen On TV’ brands in Nigeria and other African markets.

What they are saying

According to ShopEX Country Manager, Olajumoke Kujero, customers can expect exciting initiatives in the near future. “We are delighted to receive this funding from HAVAÍC, it’s a vote of confidence that gives us an extra boost in our journey to delivering Africa’s first truly omni-channel shopping experience across digital and traditional media.”

“With exciting initiatives like our soon-to-launch ‘Buy Now, Pay Later’ scheme and the various ongoing retail and affiliate partnership conversations in the works, our customers can expect to get the absolute best value for money spent on the quality globally acclaimed products we have in our offering,” added Kujero, an ex Jumia Chief Marketing Officer.

Managing Partner at HAVAÍC, Ian Lessem, also commented on the funding, saying: “This latest funding round will enable ShopEx to continue growing its team, brand, product agreements, inventory, and operations into new markets with Ghana already underway. ShopEx has the experience and network to take advantage of arguably one of the most untapped retail opportunities in Africa.”

“What’s more, their scalable technology means ShopEx can leverage off social media and key partnerships with the likes of Multichoice, Jumia, and Alibaba to spearhead the growth of multi-channel shopping in the market,” Lessem added.

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