Bumpa, an e-commerce solution startup helping African retailers manage and grow their businesses from their mobile phones, has closed a $200k pre-seed funding round.
The funding round was led by Greencap Equity and Microtraction, with contributions from some angel investors including Prosper Otemuyiwa and OO Nwoye.
Bumpa unifies the value chain by providing its users with a one-stop shop for their business processes. On Bumpa, merchants can accept online and offline payments, manage inventory/products, handle bookkeeping, fulfill orders and track sales, request dispatch riders & engage customers easily, all on their smartphones.
Bumpa was founded by Kelvin Umechukwu and Adetunji Opayele who met at the Obafemi Awolowo University in Ife, Nigeria, where the former was studying mechanical engineering and the latter, law.
On campus, both students were popular for one thing: building apps and projects. This penchant for solving problems brought them together and they later founded a startup, HostCabal (no relation 👀).
It was while building HostCabal, consulting for numerous SMEs on digitizing their businesses, that they got insight into the needs of SMEs that were trying to take their businesses online.
“We then thought of a simple solution to help non tech-savvy small business owners set up their businesses online in the shortest possible time; that gave birth to Bumpa,” co-founder Opayele said.
How it’s going
For Bumpa, the journey has been smooth but it’s had a few bumps.
Since launching in February 2021, Bumpa says it has boarded over 7,000 merchants on its platform, listing over 30,000 products and recording over $500,000 in processed transactions. The startup is also reportedly running at a 50% month-on-month growth rate.
Bumpa does have competitors though. In recent times, more businesses are moving their supply chain processes online and there are competitors like Sabi and Chunk who are finding their shares of this growing market.
Damilare Dosunmu has more in Bumpa raises $200k pre-seed to build e-commerce solutions for African merchants.