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All-in-one technology partner for informal retail store operators, Alerzo has announced a raise of $10.5 million in a Series A round financing led by Nosara Capital, a global venture capital firm for online marketplaces. The proceeds from this round would be used for expansion to Northern Nigeria. The startup also plans to launch AlerzoPay, a product for cashless payments and lending platforms.
In an interview with TechCrunch, the Founder, and CEO of Alerzo, Adewale Opaleye said: “Without Alerzo, these retailers need to take a day off from the store to visit a central market, pay for transportation and haul a large amount of inventory back to the store. Alerzo replaces this stressful experience by not only reducing costs and time spent running a retail shop but also improving the livelihood of these working women.”

Alerzo, a portfolio company under The Baobab Network, is a technology and services platform that transforms how informal retail stores operate. The startup provides unified services to its customers, helping them grow their businesses and thrive in today’s dynamic environment. Alerzo presently owns over 200 vehicles and 20 warehouses it uses for logistic and warehousing services respectively. 90% of the B2B e-commerce platform’s network of up to 100,000 small businesses is owned by women. The decision to capture the e-commerce innovation sector from Ibadan gave Alerzo the first-mover advantage since other competitors focus on Lagos, Abuja, and Port Harcourt.
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