Sendbox, Nigerian e-commerce startup has secured support from Lagos based funders – Microtraction.
Sendbox typically allows users to safely partake in e-commerce on distributed social platforms by providing a means to identify trustworthy merchants, securely pay for items, and ship to domestic and international destinations.
It connects businesses and individuals with the right courier agent for quick and affordable delivery.
Although the amount of funding secured is still under raps, Sendbox can now provide the ecessary infrastructure and support structures typically present in traditional e-commerce platforms like Amazon and AliExpress to coordinate and regulate these transactions for their users.
What the deal entails
Throwing more light on this development, Microtraction partner Dayo Koleowo, said when the firm originally met the startup’s founders they were focusing on selling their software to delivery service partners and integrating with e-commerce websites, banks and other large organisations that required delivery services.
“They quickly realised that the sales cycle for the customer categories was too long and it didn’t appear they really needed their software,” he said.
“After some interactions with them and also thinking through the product value, market problem and business model, they decided to focus on finding and providing real value to their users as well as identifying a new target audience – merchants who sell via social channels such as Instagram, Facebook, and WhatsApp,” he added.
Having signed up over 4,000 merchants and gained approximately 1,000 users in the last six months, Sendbox is expected to rapidly expand its operations with the new investment.
Alibaba Group Holding Ltd. will invest about $28 billion, over the next three ye…