Alerzo, an Ibadan, Nigeria-based B2B e-commerce retail startup, raised $10.5m in Series A funding.
The round led by Nosara Capital with participation from FJ Labs and several family offices from the U.S., Europe and Asia, including Michael Novogratz’s one.
The company, which has now raised $20m in total funding, intends to use the capital to expand operations and its business reach.
Led by Adewale Opaleye, Alerzo is a digital marketplace for informal retailers to recieve and make cashless payments, track store profitability. It also provides a portfolio of digital services including airtime purchase, bill payments as well as processing peer-to-peer transfers.