The round was led by Ingressive Capital, a prominent African early-stage VC firm, with participation from several other investors. This injection of capital will fuel Renda’s expansion plans and service improvements.

Founded in 2021, Renda focuses on a critical gap in Africa’s logistics landscape – providing end-to-end fulfilment solutions.

While many startups address middle-mile and last-mile delivery, Renda offers a comprehensive suite of services including storage, inventory management, order processing, delivery management, return handling, and real-time cash-on-delivery tracking.

“The informal nature of many African economies presents logistical hurdles, especially for businesses struggling with infrastructure limitations,” said Ope Onaboye, CEO of Renda.

“Our asset-light model allows us to partner with existing warehousing, delivery providers, and cash collection agents to create a seamless fulfillment network.”

Renda leverages a network of over 300 warehousing and storage partners, 3,000 delivery vehicles (including trucks, vans, and bicycles), and 2,000 cash collection partners.

This extensive network has reportedly facilitated reaching over 100,000 customers across 15 Nigerian states and processing over 250,000 orders.

The company boasts a 450% year-on-year revenue growth, highlighting the strong market demand for its services.

Renda’s initial customer base focused on small businesses, but its reach has since expanded to encompass e-commerce platforms, FMCG producers, agricultural companies, and general manufacturers.

The company plans to utilize the new funding to enhance its offerings and expand into additional cities within Nigeria and Kenya, with a focus on Kenyan expansion later in 2024.