Nigerian group-buying startup Pricepally raises funding from GreenTec
Summary
Nigerian group-buying startup Pricepally has secured funding from German firm GreenTec Capital Partners as it looks to expand its operations outside of its Lagos base. Disrupt Africa reported in February on Pricepally, which launched in November 2019 and is a group-buying platform that aggregates consumer food demand and matches it with supplies directly from farmers and wholesalers. The startup has seen increased demand created by the global COVID-19 pandemic, and has ambitious plans to re-imagine the food system in Africa by connecting relevant stakeholders through their platform and building out the infrastructure to reach more Nigerians. “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,” said Luther Lawoyin, the startup’s chief executive officer (CEO).