TradeDepot has acquired Green Lion, a Ghanaian B2B eCommerce platform to accelerate its growth, boosting its service delivery across the West African country.
The acquisition will enable the Nigerian B2B eCommerce to fully have unhindered access to Green Lion’s assets, partnerships, employees and over 100,000 customers.
Co-founded by Jorge de Rojas, Enrique Moreno de la Cova and Miguel de Rojas in 2018, Green Lion’s micro-financing working capital requirements for retailers and wysr — a digital ledger platform for bookkeeping and stock monitoring, has impacted over 4,000 business owners.
With 29,854 transactions made since inception, Green Lion is currently one of the largest B2B e-commerce platforms in Ghana.
The acquisition enables TradeDepot to extend its presence in four cities where Green Lion operates with plans of further expansion and targets increasing its customer base to 15,000 by the end of this year.
TradeDepot will leverage Green Lion’s achievements so far. The company will utilise its data, technology and logistics network to connect more neighbourhood retailers to suppliers while providing them with access to financing options like loans or BNPL support which is embedded in the company’s ShopTopUp platform.
Founded in 2016, TradeDepot recently raised $110 million in series B funding. The company will use its own warehouses and fleets of drivers to distribute FMCGs to its network of micro-retailers across Nigeria, Ghana and South Africa.
Over the last 15 years, Onyekachi Izukanne, Michael Ukpong and Ruke Awaritefe have co-founded three startups including SocketWorks, an IFC-funded EdTech startup, C2G Consulting – a technology consulting business that became one of the leading SAP consulting houses in West Africa with over $40 million earned in revenues and now, TradeDepot, a thriving B2B marketplace.
