Nigerian Startup Betastore Raises USD 2.5 Mn Pre-Series A Round

Nigeria-based startup Betastore has closed a USD 2.5 Mn in pre-series A funding round from 500 Global, VestedWorld, and Loyal VC. Betastore has to date raised USD 3 Mn in funding. The startup plans to expand its operations to  Ghana, the Democratic Republic of Congo, and Cameroon by the end of this year.

The Betastore marketplace enables informal traders to source fast-moving consumer goods (FMCGs) directly from manufacturers or distributors – which keeps the prices of the products competitive by eliminating interactions with sales agents. It also works with logistics partners to ensure the delivery of goods within 24 hours.