Vendease, an online marketplace for Africa's food businesses to procure food supplies founded in 2020, has secured $30 million (split between $20 million equity and $10 million debt) in its Series-A funding round led by Partech Africa and TL.com.
This news comes barely a year after it raised a seed round of $3.2 million in October 2021.
The platform transitioned from its initial mode of operations where it directly connected restaurants and hotels with suppliers (farms and food manufacturers) via its platform.
Now it offers the ease of access to procure food by directly acquiring the bulk of various food supplies at discounted rates from farmers, storing them up, and making deliveries to restaurants and food vendors per order, using 3rd party logistics partners.
The food procurement platform offers effective new ways to tackle the challenges of the food supply chain that has plagued many restaurants and food vendors in the region as it promises to ensure efficient value delivery, overcome sourcing challenges and mitigate procurement risks.