KUALA LUMPUR, Oct 7 (Bernama) -- Alerzo, one of the fastest growing B2B startups in Nigeria, announced that its annualised September transaction volume exceeded US$155 million, growing more than five-fold since the beginning of 2021. (US$1 = RM4.178)
Since the company’s Series A fundraising this summer, Alerzo’s B2B marketplace has more than doubled in revenue and built a payments business that now processes more than 400,000 transactions each month.
According to a statement, Adewale Opaleye (Ade) founded Alerzo in Ibadan, Nigeria’s third-largest city, in 2019.
The company provides over 150,000 informal retail stores—more than 90 per cent of which are operated by women—with free same-day delivery, cashless payments and a portfolio of other digital services that enhance store profitability while simplifying owners’ lives.
This summer Alerzo acquired Shago Payments to accelerate its transformation from a B2B marketplace to an all-in-one technology platform. Shago, founded by payments industry veteran Sabastine Enechi, accelerates Alerzo’s push into digital products and financial services.
With Shago’s integration into AlerzoPay, the company’s payments arm, Alerzo now provides informal retail stores with a portfolio of new digital services such as mobile airtime top-up; bill payments and peer-to-peer transfers.
Santie Botha, chairman of Capitec Bank (South Africa), recently joined Alerzo’s board as the lead independent director. “I joined Alerzo’s board because I was inspired by Ade’s life story and share Alerzo’s commitment to empower working women in Africa,” said Botha.
In September, Alerzo expanded its operations to the Middle Belt and Northern regions of Nigeria, and now operates in Abuja and Kano. The Company plans to serve most of Nigeria before the end of next year.
More details at www.alerzo.com.
-- BERNAMA
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