Pricepally, a Nigerian online grocery store for fresh produce and packaged food, has raised $1.3 million in seed funding, backed by Samurai Incubate alongside SOSV, ELEA, Hi2 Global, Chui Ventures and ex-Unilever executive David Mureithi.
Pricepally will use the funding to expand beyond the three cities it currently serves in Nigeria and to re-introduce group buying to keep up with its promise of enabling consumers to buy food affordably.
The startup facilitates same- or next-day delivery of the produce ordered through its digital channels, including the app and WhatsApp chatbot. It has a network of fulfilment centres within the three cities it currently operates in but outsources delivery services.
Launched in 2019 by Luther Lawoyin (CEO), Deepak Bansal (CTO), Mosun Lawoyin (CXO) and Jummai Abalaka (COO) launched Pricepally in 2019 to reduce the cost of food, ensure availability and keep prices predictable amid shortages and mounting prices exacerbated by rising inflation.
Commenting on the deal, Rena Yoneyama of Samurai Incubate said: ”The great thing about Pricepally is their execution ability. There are still many difficulties with e-commerce in Nigeria, and many things that work normally in other major African cities often do not work due to a lack of both hard and soft infrastructure and trust issues.”