Ghana-based leading reselling platform Tendo, which enables anyone to sell online with just a smartphone and social media account, without investing capital to buy inventory upfront, has received investment from Africa-focused early-stage capital venture firm Renew Capital.
The funds will be used to help expand the company’s operations, particularly in the area of supporting individuals to run ecommerce businesses on social media without having to invest capital.
Tendo connects wholesalers with independent resellers, who can pick products, set their own profit margins, and promote listings on social media platforms like WhatsApp, Instagram, Facebook and others.
When someone buys, Tendo handles payment and delivery, then the reseller gets their cut without having to invest any capital in purchasing inventory. This comes with zero risk to the reseller.
What makes Tendo’s model attractive is that capital constraints and logistics are the main barriers to access to e-commerce across much of Africa. But Tendo’s model removes those barriers, giving aspiring entrepreneurs a low-risk way to start earning online from the comfort of their home.
The CEO and co-founder of Tendo, Felix Manford said “Our mission is to create opportunities for individuals to build businesses with minimal risk.”
Investment Ecosystem Development Manager at Renew Capital, Nicholas Clerk said “Tendo is transforming the way people approach entrepreneurship. Their platform removes traditional barriers to entry, enabling individuals to earn income and build businesses using just their smartphones.”
