Impact investment firm Renew Capital has announced an investment in Tendo, a digital platform based in Ghana that enables people to launch their own online businesses with no upfront cost.
Tendo offers a solution for individuals who want to become resellers without the usual challenges of sourcing products, stocking inventory, or making initial payments.
Through the platform, users gain access to a wide range of wholesale goods and can promote them directly through social media platforms like WhatsApp and Facebook.
Resellers can set their own prices, and once an order is placed, Tendo handles both the payment and delivery, while ensuring that resellers receive their earnings.
“Our goal is to make it easy for anyone to start a business,” said Felix Manford, CEO and co-founder of Tendo. “We manage the hard parts like logistics and stock so users can focus on selling and making money.”
The platform is already serving users across Africa, helping to unlock new income opportunities through a smartphone-based business model.
Commenting on the investment, Nicholas Clerk, Investment Ecosystem Development Manager at Renew Capital, said:
“Tendo is breaking down barriers to entrepreneurship. Their model allows individuals to earn money and grow businesses with low risk, using just a mobile phone.”
The investment is expected to help Tendo expand its reach and further its mission to simplify online business creation for everyday Africans.
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