Nigerian E-commerce Startup Alerzo Raises USD 10.5 Mn Series A Round

Alerzo, a Nigerian B2B e-commerce retail startup, has raised USD 10.5 Mn in a Series A round led by London-based Nosara Capital. The round also included FJ Labs and various family offices from the United States, Europe, and Asia, including Michael Novogratz’s.

Alerzo is a last-mile distribution platform that allows retailers to order products from manufacturers directly. Its business is centered on assisting street-side sellers and shops in Nigeria’s south-western cities in obtaining household products in a more timely and efficient manner. The first-party relationship platform lets suppliers clear inventory faster and lets Alerzo control the supply chain and delivery.

The funds raised in this Series A round will go into expansion to northern Nigeria. Alerzo also plans to roll out AlerzoPay, its cashless payments, and financing platform, as well as a portfolio of additional business support services.