Pricepally
Retail Tech | Nigeria
Pricepally is an online store that allows people to shop bulk items
What they do:
Pricepally is an e-commerce platform that enables consumers to group buy or share bulk farm-fresh food items sourced directly from farmers, wholesalers and brands making it cheaper and fresher than buying at retail.
Why we invested:
In Nigeria, lower-income families buy rice and staple starches from nearby retail stores, facing higher prices due to added margins at each intermediary level. This problem results in Nigerians spending over 50% of their monthly income on food, the highest ratio globally. For those earning less than minimum wage, the situation worsens, with up to 95% of their income dedicated to food expenses. Pricepally is aiming to disrupt the current market by skipping the intermediaries and becoming the singular link from farmer to consumer.
The Founder:
Luther Lawoyin is the Co-Founder and CEO of Pricepally
Active in:
Nigeria