Bumpa, an African-focused e-commerce solution startup helping African retailers manage and grow their businesses from their mobile phones, has raised a $200k pre-seed funding round.
Bumpa’s Pre-seed funding
This round had participation from various VCs including Greencap Equity, HOAQ Club, Whogohost Venture Arm, Rizq Investment Group, Microtraction, DFS Labs, Aidi Ventures, Prosper Otemuyiwa, Oo Nwoye, Perfect Makanju, and a few other angels. This investment adds Bumpa to list of startups who have raised funding in 2021.
What you should know about Bumpa
Bumpa was launched in February 2021, founded by two notable Nigerian tech ecosystem operators Kelvin Umechukwu, CEO and Adetunji Opayele CTO, Bumpa allows merchants to set up their e-commerce store using their smartphone, accept online and offline payments, manage inventory, fulfill orders, track sales, request dispatch riders and engage customers without requiring coding skills.
With Bumpa, everything you need to sell online, track orders, engage customers offline and on social media is freely accessible on the Website.
How Bumpa Started
The long beautiful story of Bumpa began 8 years ago; long before it was built.
Umechukwu and Opayele are two friends who met in (OAU) Obafemi Awolowo University, Ife where they both studied mechanical engineering and law, respectively. Bumpa isn’t the first project these two buddies would create, back then on campus, they were quite popular for building apps and projects and this similar passion brought them together also kept them together for 8 years, as friends and business partners.
They were involved in various projects together and individually. They co-founded HostCabal, but faced huge challenges with raising funds, and they had a glimpse of what an average small business faces on a daily basis. They thought about providing a solution to the problems small businesses face especially the non techy businesses and this was the beginning of Bumpa.
Bumpa’s growth over the year
According to the startup, Bumpa has boarded over 7,000 merchants on its platform listed over 30,000 products and recorded over $500,000 in processed transactions; the startup is also said to be running at a 50% month-on-month growth rate.
Bumpa is seven months old but it recently got into the Microsoft for Startups- a program for growth-stage startups that provides free technical consultations, access to corporate partnerships alongside free access to enterprise software including Office 365, Github Enterprise, and Azure credits worth up to $25,000.
Speaking on the investment, Bumpa’s CEO said…
“I believe that a lot of small businesses will thrive as they begin to take advantage of technology for their growth and I’m very excited about the future of commerce in Africa because of what we are building at Bumpa.”
Opeyemi Awoyemi, Venture Partner and Founder of Whogohost also said, “It’s hard to build a “Shopify” that works well for small merchants in Africa. The Bumpa team understands this well – it took me less than a minute to set up a shop on Bumpa. They are building fit-for-market tools that will digitize informal markets and create value for millions of existing and first-time sellers”.
Bumpa is primarily based in Nigeria, but has active users from other African and European countries. With the $200,000 pre-seed raise, Bumpa is looking to empower more small business owners with the tools to grow their businesses. Within the next year, the startup wants to reach 200,000 merchants.
It will also be expanding its team and rolling out new features to improve support for merchants on its platform, as it looks to help onboarded businesses grow their sales by at least 20% MoM.
Finally as per Competition, which is gradually picking up in the business management tool market. The market holds a pool of around 41 million SMEs. Bumpa has competitors like Sabi to contend with. Sabi recently closed an investment round and announced its 150,000 merchants milestone.