Pricepally, a Nigerian online grocery startup for fresh and packaged food, has successfully raised $1.3 million in seed funding to help scale it’s expansion.
The startup was founded in 2019. The founder’s are Luther Lawooyim, Jumai Abakaja, Deepak Bansal and Monsunmola Adefemi. The Company focuses on making fresh produce and packaged food affordable by adopting a unique approach.
Pricepally provides it’s customers with the Pally feature, which allows them to get more for less and build community spirit.
The $1.3 Million funding secured will propel Pricepally’s expansion beyond its current three-city reach in Nigeria.
Pricepally mission is to provide access to the best quality farm-fresh food items affordable for families. However it also provides for businesses living in African cities with the utmost efficiency, starting with Lagos
The company directly sources fresh produce from contracted farmers and negotiates prices, ensuring affordability and quality.
The $1.3 million funding was led by Incubate that also participated in Pricepally’s 2021 pre-seed round.
Other contributors include SOSV, ELEA, Hi2 Global, Chui Ventures, and former Unilever executive David Mureithi.
Pricepally will use the funding to expanding its footprint. The company is looking to enter new cities and growing in existing markets in Lagos, Abuja, and Port Harcourt.
It will also enhance its technology, optimise end-to-end operations, introduce innovative consumer features, and nurture burgeoning B2B markets.
The startup plans to leverage its strong customer retention. At the same time, it plans to introduce new features like online group buying to tackle food insecurity in Nigeria’s market.
In 2019, Pricepally was born to bring innovation to an inefficient food distribution system in African cities.
The Company believes in connecting farmers, manufacturers, and wholesalers directly to the consumer, in an innovative way that benefits all players in the value chain.
Likewise, the company aims to build the next generation food system for African cities. This is a platform where key players in the food value chain who add value can plug in to exchange their deals with the end consumer.
According to Pricepally, the Company is not just another online service provider for fresh bulk food items but its more than that.
At the same time, the company uses data, technology, and partnerships.
More so, it enables customers get the best value for their money at no extra cost. The company also aims to provide customers with goods from the convenience of their homes and workplaces.