by Russel A
GreenTec Capital announced an investment in Ghanian e-commerce startup Sumundi. The innovative digital company Sumuni, have developed an online retail management platform that will help retailers grow and sustainably manage their businesses.
Sumundi will use its retail management platform to connect African retailers with a variety of services that will help them grow their businesses. Their product mainly targets the small scale retailers in the informal sector who comprise 25 percent of the continent’s GDP and employ 60 percent of all workers. The new POS and inventory management software offered by Sumundi will ensure small scale retailers and shops can incorporate technology into their daily business operations. This will help them carry out proper inventory management and accounting. Other services that retailers can benefit from the platform are e-commerce and logistics.
Maxime Bayen, the Senior Company Builder GreenTec, points out how small vendors are a ” strong economic engine” for the continent. He also pointed out how Sumundi aims to speed up the “digital inclusion” of such businesses. With continued growth and prosperity through the digital platform, businesses can increase their revenues and “create new jobs”
Gilbert Blankson-Afful and Awura Abena Amponsah, co-founders of Sumundi expressed their described their relationship with GreenTec as a “great opportunity” that will see them benefit from their “years of expertise.”
In 2019, Sumundi participated in the Seedstars World competition, where they came out in third place. As showcased on their website, the startup has thus far raised $1.2 million for its clients and fulfilled over 750,000 orders on its the platform.