Fast-rising startup, Tendo Nigeria, needs no introduction. Tendo is an ecommerce platform that enables anyone to start their online business without investing any capital. Too good to be true? Not really. The idea is to connect small businesses to individuals to curb unemployment and unemployability.
All the you or your loved ones need do is add your own profit margin to products on the Tendo platform, share on social media and earn money each time a purchase is made. Viola!
Consumertrics just thought to let you know that Tendo has been around for some time now. Also, Tendo has developed a mobile app that connects dropshippers to local wholesalers. Sellers on the platform are able to source products and resell items using social commerce tools such as WhatsApp, arrange delivery, and get paid, all through the Tendo app.
According to Felix Manford, Tendo’s co-founder and CEO: “At the moment, people who want to sell online need to save money, visit hundreds of suppliers to find a trusted one, and risk losing their capital by stocking up inventory. Beyond this, they need to incur costs for logistics and warehousing. We eliminate all that.”
The startup is already working with thousands of merchants in Ghana and Nigeria. This has been achieved with funding from the likes of the Google Black Founders’ Fund, LoftyInc Capital Management, and Plug and Play Ventures, while Tendo has also recently taken part in the Y Combinator W22 accelerator and Catalyst Fund’s inclusive digital commerce programme.
“As we built our community we realised most of our users had more interest in starting a business but struggled to raise initial capital. We also learned that social media had become the preferred shopping channel for many consumers in Africa – an estimated 32 per cent of all e-commerce in Africa was happening on Facebook,” Manford said.
“We initially launched Tendo and distributed products through WhatsApp groups. We also used spreadsheets to manage and track orders.”
Not anymore, with Tendo on a strong growth trajectory, tackling the lack of trust amongst African consumers when it comes to shopping online.
“Consumers here trust people they know, not brands – and they make purchase decisions based on this. This social experience is however missing on many traditional e-commerce platforms in Africa,” said Manford.
“To address that deficit Tendo leverages on social networks of individuals and the platform leans in on the existing consumer behaviour. Tendo is shaping digital commerce in Africa by putting selling power in the hands of everyday users. Anyone can become an entrepreneur,” the Tendo chief said.
“With the young demographics making up more than one-third of Nigeria’s growing population, Tendo’s entry into Nigeria is the logical next step as we work towards building the largest reselling platform in Africa. Our primary focus here is to build the largest network of resellers, or Tendo merchants as we like to call them, and equipping them with the resources and support needed to grow and manage their business,” Chisom Ukaegu, Tendo’s country manager hinted.
