This funding round includes contributions of €500,000 ($546,890) from Mstudio and €250,000 ($273,358) from Saviu Ventures.

The capital will support Waribei’s mission of empowering local merchants by improving their access to stock.

This will enable them to boost sales and ensure the long-term sustainability of their businesses.

The fintech also aims to enhance its integration with financial institutions to offer customized, high-quality services that meet the specific needs of local entrepreneurs.

By addressing the financing gap, Waribei plans to transform informal commerce in the region and unlock new growth opportunities for both retailers and wholesalers.

Founded in 2023 by Ladislas Pham and Frédéric Fameni, Waribei connects banks, wholesalers, and retailers through a payment tool that formalizes access to working capital.

This solution enables retailers to purchase goods on credit, fostering their business growth.

Additionally, Waribei’s platform allows wholesalers to manage payment terms within traditional distribution channels, all supported by bank liquidity.

Co-founder Ladislas Pham emphasized the company’s approach of listening to retailers and wholesalers and spending time in the markets to understand their daily challenges.

“At Waribei, we want to ensure that merchants can grow their businesses without worrying about maintaining stock levels or struggling to secure loans,” he said.

Research shows that the informal sector plays a crucial role in African economies, with women making up a significant portion of participants.

However, limited access to financing has hindered the growth of this sector.

Mstudio, one of Waribei’s investors, acknowledged the importance of addressing this challenge, particularly for women traders, who often face difficulties in maintaining a steady stock supply due to inadequate access to traditional financing options.