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Pastel, a Nigerian bookkeeping and digital platform for merchants, raises $5.5M led by TLcom
In Nigeria alone, this industry, worth more than $200 billion, consists of over 40 million businesses of varying sizes, according to reports. Traditional retail in the country comprises small kiosks and open-air markets selling various products from food and beverages and groceries to personal care products and stationery. B2B digital marketplace upstarts such as TradeDepot, Sabi and Omnibiz have raised millions of dollars to help thousands of these businesses purchase inventory from manufacturers while providing solutions to track cash flow, payments and access capital.
