Introduction
Waribei, a fast-growing fintech startup based in Ivory Coast, has successfully raised €750,000 (approximately $820,462) in pre-seed investment to accelerate the development of its inventory financing platform. This funding aims to provide much-needed financial support to small traders across Africa, enabling them to grow their businesses by ensuring access to inventory.
Strategic Investment to Fuel Growth
The investment comprises two major contributions: €500,000 ($546,890) from Mstudio and €250,000 ($273,358) from Saviu Ventures. This infusion of capital will bolster Waribei’s mission to empower small-scale merchants by providing them with the financial resources to stock additional inventory, thereby increasing sales and improving the long-term sustainability of their businesses.
In addition to financing inventory, the funds will help Waribei strengthen its partnerships with banking institutions, enabling these financial players to deliver customized services tailored to the specific needs of local business owners.
Revolutionizing Informal Commerce in Africa
Waribei has set a bold goal: to transform the landscape of informal trade in Africa by addressing the persistent lack of access to financing for small traders. "By tackling the existing financing shortfall, we aim to reshape the way informal trade operates and unlock new growth opportunities for both retailers and wholesalers," the company explained.
Founded in 2023 by Ladislas Pham and Frédéric Fameni, Waribei plays a critical role as a payment bridge that connects banks, wholesalers, and retailers. The platform facilitates the acquisition of working capital for purchasing goods, helping retail businesses thrive in a competitive environment.
A Platform for Sustainable Growth
Waribei offers a comprehensive platform that manages payment terms within traditional distribution networks, supported by liquidity provided by banks to wholesalers. This enables small retailers to overcome the challenges of restocking and scaling their businesses.
Co-founder Ladislas Pham emphasized the company’s hands-on approach: "We started by engaging directly with retailers and wholesalers, immersing ourselves in marketplaces to truly understand the everyday challenges they face. This allows us to design solutions that meet their real needs."
“At Waribei, our primary goal is to ensure that merchants can scale their businesses smoothly, free from the stress of stock shortages or the obstacles of securing loans,” Pham added. The platform is designed to simplify the process of inventory financing, providing fast and flexible solutions for traders.
Supporting the Informal Sector and Women Entrepreneurs
The informal sector is a vital part of Africa’s economy, with a high rate of participation from women. However, a lack of access to financing has historically limited its growth. Mstudio, one of the key investors in Waribei, highlighted the startup’s commitment to overcoming these barriers, particularly for female entrepreneurs, who often struggle to maintain inventory due to limited access to traditional financing options.
Waribei’s innovative financing solution is geared toward stabilizing small-scale businesses by offering quick, adaptable access to inventory financing. This approach is set to revolutionize the way informal traders operate, fostering greater economic inclusion and growth across the continent.
