Pricepally, a Nigerian wholesale platform that allows users to purchase food and other products either individually or as a part of a group, has raised undisclosed funding from GreenTec Capital Partners.
Pricepally was founded in 2019 and provides access to affordable, nutritious, traceable, and secure food items in Africa’s urban cities. It is a wholesale and sharing economy e-commerce platform that enables people to buy food in bulk or share bulk food items with others online to leverage their collective bargaining power.
Building on principles of the Shared Economy, Pricepally brings consumers together directly with farmers, manufacturers, and wholesalers to mutual benefit.
To date, the platform has grown substantially driven, in part, by increased demand created by the global pandemic. Pricepally’s ambitious plans are to reimagine the food system in Africa, by connecting relevant stakeholders through their platform and building out the infrastructure to reach more Nigerians. Currently, Pricepally is available in the Lagos area and offers 1-2 day delivery on orders.
Maxime Bayen, Senior Company Builder at GreenTec Capital Partners said “At the origin of Pricepally was the deep desire from a group of people to allow households to access essential and quality food at a more affordable price. We, at Greentec Capital, are thrilled to be supporting this team of young, brilliant, and gender-balanced co-founders on such an important mission !”
Luther Lawoyin, CEO of Pricepally said “At Pricepally we are excited about our collaboration with GreenTec Capital, we see this as a significant step in achieving our vision of a sustainable food system for urban African cities. We are very aware of the huge challenge ahead but we are also very confident in this partnership and we look forward to the future.”
