Nigerian e-commerce startup, Bumpa, which aids retailers manage and grow their businesses from their smartphones, just closed a $200,000 pre-seed funding round to help reach more merchants and add more features.
The platform allows its users to set up an e-commerce store using their smartphone, accept online and offline payments, manage inventory, handle bookkeeping, fulfill orders, track sales, request dispatch riders, and engage customers – without any programming skills.
Participants in the pre-seed funding includes: Greencap Equity, Microtraction, DFS Labs, Whogohost Ventures Arm, and Rizq Investment Group. Inclusive Angels such as: Prosper Otemuyiwa, Oo Nwoye, Perfect Makanju, and a few others who also wrote checks for the round.
Launched in February 2021 by Kelvin Umechukwu and Adetunji Opayele, Bumpa has helped over 7,000 merchants move their business on its platform, listing over 30,000 products and recording over $500,000 in processed transactions. Bumpa is reportedly moving at a 50% month-on-month growth rate and plans to expand more quickly after banking a $200,000 pre-seed fund. The startup plans on reaching 200,000 merchants within the next year and will also be expanding its team as well as rolling out new features to improve support for merchants.
The seven months old startup also got into the Microsoft for Startups recently, a program for growth-stage startups that provides free technical consultations, access to corporate partnerships alongside free access to enterprise software including Office 365, Github Enterprise, and Azure credits worth up to $25,000.
According to Umechukwu, he said “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 much 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.”