Cameroon’s Buyam bags $10,000 pre-seed funding
Cameroon’s e-commerce platform Buyam has secured $10,000 funding in a pre-seed round from US-based angel investing consortium SHC86 Ventures LLC.
Launched in 2021, the start-up says the funding will enable Buyam to expand beyond Cameroon and grow its presence in the Central African Economic and Monetary Community and Francophone Africa.
Since launch, Buyam has on-boarded over 5,000 registered vendors who have listed over 30,000 of their in-stock inventories.
The start-up is now seeking to grow these numbers in the next 12 months to over 10,000 registered vendors.
Mambe Churchill Nanje, co-founder of Buyam, comments: “We will also invest into product development and engineering gearing towards our goal of offering a seamless solution for every small and micro vendor to easily and completely manage their small business with Buyam on their smartphones.”
Besides the cash, SHC86 Ventures LLC will support to grow through its expertise and experience.
“Stephen Fusi has a vast experience ranging from engineering, innovation, entrepreneurship to branding and marketing at very high level in places like Procter and Gamble, Starbucks,and North Carolina Central University,” says Nanje.
For the funders, Stephen Fusi, co-managing member of SHC86 Ventures LLC, says his team is keen on supporting African-led businesses and assist them to scale operations.
“Considering the thousands of small and mid-size vendors distributed across countries, SHC86 sees upside in digitisation and has been impressed by the traction Nanje and his team have generated,” Fusi said in a statement.