Senegalese retail-tech startup ProXalys secures $500k
TLDR
- Senegalese startup ProXalys secures $500,000 funding round for scaling efforts and digital transformation in B2B commerce.
- Funding led by 216 Capital, supported by Haskè Ventures and Digital Africa's FUZE program.
- ProXalys to leverage funds to accelerate market entry of ProBoutik and strengthen data and AI teams in Tunisia and Senegal.
Senegalese startup ProXalys, specializing in B2B commerce digital transformation, has raised $500,000 in a funding round to support its scaling efforts. Launched in 2021 by Thierno Sakho, ProXalys is dedicated to modernizing and empowering Senegal's informal traders by digitizing the entire value chain and revolutionizing supply chain processes.
The funding round was spearheaded by 216 Capital, a seed fund based in Tunisia. It also garnered support from Haskè Ventures and Digital Africa through its FUZE program.
ProXalys plans to deploy the raised funds to expedite the market entry of its latest product, ProBoutik, and reinforce its data and AI teams in both Tunisia and Senegal. This financial infusion is expected to bolster ProXalys in its mission to drive digital innovation in B2B commerce within the Senegalese market.
Key Takeaways
Africa is witnessing a surge in technological innovations focused on commerce, driven by the rising adoption of mobile phones and increased internet penetration across the continent. The COVID-19 pandemic further accelerated this trend, leading to a notable increase in e-commerce solutions, particularly within the predominantly informal supply chain. As household consumption in Africa is projected to reach $2.5 trillion by 2030, coupled with the informal retail industry contributing around $2.6 trillion to the continent's nominal GDP, there is significant potential for enhancing retail services. The B2B e-commerce sector is playing a transformative role in reshaping commerce across Africa. With the potential to significantly expand the existing $2 trillion industry, these innovations are poised to make a substantial impact on the continent's economic landscape.
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