ShopZetu, a fashion technology startup based in Kenya, has raised $1 million in pre-seed funding to scale its operations and expand into new markets. The round was led by Chui Ventures, with participation from Launch Africa, Roselake Ventures, Logos Ventures, and angel investors.
ShopZetu was founded in 2021 by Marvin Kiragu and Wandia Gichuru with the goal of revolutionizing Africa’s fashion and lifestyle e-commerce industries. The company’s platform provides a one-stop shop for consumers to browse, shop, and order products from a wide variety of local and international brands.
ShopZetu’s platform is designed to address the challenges faced by small businesses and fashion vendors in Africa. The company offers a range of services, including content creation, digital marketing, warehousing, and last-mile delivery. This allows vendors to focus on their core business of selling products, while ShopZetu takes care of the rest.
The company has already seen significant growth in a short period of time. ShopZetu has served over 30,000 customers and sold more than 100,000 products. The platform currently hosts over 300 vendors offering over 20,000 products.
With the new funding, ShopZetu plans to scale its customer acquisition efforts in Kenya, expand its vendor base to 1,000 brands, and venture into the beauty and home décor categories. The company also intends to pilot regional delivery services in Uganda, Tanzania, and Rwanda.
“We are excited to be leading the charge in online fashion and lifestyle retail,” said Marvin Kiragu, CEO of ShopZetu. “The future of e-commerce in Africa will be driven by content, community, and hyper-personalization through recent advances in artificial intelligence.”
ShopZetu’s funding round is a sign of the growing interest in the African e-commerce market. The market is expected to reach $100 billion by 2025, and ShopZetu is well-positioned to capitalize on this growth.
Here are some of the key takeaways from this article:
- ShopZetu has raised $1 million in pre-seed funding to scale its operations and expand into new markets.
- The company plans to use the funds to scale customer acquisition in Kenya, expand its vendor base, and venture into new categories.
- ShopZetu is well-positioned to capitalize on the growing African e-commerce market.