Nigeria-based food marketplace Vendease raised $30 million in Series A co-led by TLcom and Partech where existing investors VentureSouq, Hustle Fund, Hack VC, GFR Fund, Kube VC, Magic Fund, and Kairos Angels also participated.
Vendease addresses the challenges and inefficiencies in Nigeria’s highly fragmented food sector by employing a marketplace model that connects suppliers and farms to restaurants and food businesses, with deliveries made within 24 hours. Vendease intends to use the funds to expand its operations, consolidate its presence in eight cities across Nigeria and Ghana (the company recently expanded to the latter), enter new markets, and develop new products to improve customer efficiency. Vendease enables African restaurants and food businesses to purchase supplies, obtain financial services, and power their operations.