Bumpa, a social commerce company in Nigeria, has revealed that it has secured a $4 million round of early investment to broaden its product line and enter new markets.
Bumpa, a platform created by Kelvin Umechukwu and Adetunji Opayele in February 2021, enables businesses to shift online without the need for coding knowledge. They can use their smartphone to set up an online store, receive payments both online and off, manage inventory, conduct bookkeeping, process orders, monitor sales, ask for dispatch riders, and interact with consumers thanks to the platform.
Base10 Partners, Plug & Play Ventures, SHL Capital, Jedar Capital, Magic Fund, DFS Lab, FirstCheck Africa Angel Program, E62 Ventures, Club14, and Fast Forward Ventures all contributed to the US $4 million seed round, which was also headed by Base10 Partners.
The pre-seed investment was obtained by the business last September; since then, it has added more than 50,000 merchants and listed more than 400,000 items. In order to better serve the expanding number of African SMEs in need of digital solutions, Bumpa is now attempting to diversify its product line by including more social commerce options. With the help of these functions, linkages, and integrations, SMEs will have greater control over how they run and expand their companies.
In the upcoming months, Bumpa will also be increasing its workforce with an emphasis on marketing, engineering, and business responsibilities, as well as opening up access to its product to new African markets.
“The goal is to do three things: connect, innovate, and scale. Bumpa 2.0 for us as a startup is to connect all the relevant tools, channels, and places that SMEs need all in one place – the Bumpa app. It is also to innovate by bringing simpler, automated ways to do any business transaction or operation on the app. It is also to scale our user’s businesses, our position as key players in the African commerce industry, and to scale the capacities and reach of the employees and even we, the founders,” said Umechukwu.
“Bumpa is building a mission that we love and were excited to get behind, enabling e-commerce and reducing friction for millions of SMBs,” said Luci Fonseca, principal at Base10 Partners. “The more we spent time with Kelvin and Teejay, the more we saw that they are very special founders and have a powerful mission to build the defining e-commerce platform in Nigeria and across Africa.”
