Nigerian e-Commerce Startup, Bumpa raises $200k pre-seed Funding

Nigerian e-Commerce Startup, Bumpa raises $200k pre-seed Funding

Nigerian e-Commerce startup, Bumpa has announced it raised $200k in a pre-seed funding round. Greencap Equity, HOAQ Club, Whogohost Venture Arm, Rizq Investment Group, Microtraction, DFS Labs, Aidi Ventures, Prosper Otemuyiwa, OO Nwoye, Perfect Makanju, and other angel investors all participated in the round.

Bumpa was launched this year by Kelvin Umechukwu and Adetunji Opaleye, the startup aims to help merchants move their businesses online by helping them set up their e-commerce store using just their smartphones.

Bumpa enables customers can manage inventory/products, fulfill orders and track sales, accept online payments, get a free customizable website to list products, request logistics service to help them deliver physical products with ease and engage customers, and much more on the go with their smartphones.

Bumpa claims to have received over 7,000 merchants on its platform including retail businesses like The Ajala Store and Lash Ng. It also claims to have recorded a 50% Month-on-Month (MoM) growth rate.

Bumpa also claims that merchants have listed more than 30,000 products on the platform and completed over $500,000 in recorded transactions.

However, the startup is not resting on its oars as it has a target to reach 200,000 merchants before the end of 2021 according to.

Co-founder and CEO, Kelvin Umechukwu speaking said that Bumpa is also looking to expand its team to better empower more small business owners with the tools to grow their businesses.

“Building the operating system for MSMEs in Africa can be daunting but having the right team, very supportive investors, and the best community of customers makes the work fun to do and a lot easier. I believe that a lot of small businesses will thrive as they begin to take advantage of technology for their growth and I’m very excited about the future of commerce in Africa because of what we are building at Bumpa” Kelvin said.

“It took me less than a minute to set up a shop on Bumpa. The Bumpa team is building fit-for-market tools that will digitize informal markets and create value for millions of existing and first-time sellers,” he said.

The startup was recently admitted into the Microsoft for Startups program which gives free technical consultations and access to corporate partnerships to growth-stage startups.