Ivorian fintech Waribei secures funding to expand inventory financing solutions for local merchants

Oct. 13, 2024 - Techpoint Africa

Waribei, an Ivorian fintech company, has raised €750,000 ($820,462) in pre-seed funding to accelerate the development of their inventory financing solution for small traders in AfricaThe funding has contributions of €500,000 ($546,890) from Mstudio and €250,000 ($273,358) from Saviu Ventures. The funding will enable the fintech to initiate its mission of empowering local merchants by providing access to more stock, allowing them to increase sales and secure the long-term sustainability of their businesses.

“By bridging the financing gap, we aim to transform the way informal commerce operates in the region and unlock new growth opportunities for retailers and wholesalers.” the fintech revealed.

Founded in 2023 by Ladislas Pham and Frédéric Fameni, Waribei is a payment tool connecting banks, wholesalers, and retailers. So, the fintech's solution helps small traders stabilise their businesses by offering fast, flexible access to inventory financing.

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