# BetaStore

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/betastore

- Industry: Logistics & Distribution
- Headquarters: Lagos, Nigeria
- Website: www.betastore.co
- Total disclosed funding: $0.7M
- Latest round: Seed (Mar 1, 2021)
- Investors on record: 4

## About

Founded in 2020 and based in Lagos, Nigeria, Simplemarket Inc., doing business as BetaStore, helps small retailers source inventory and get financing. In May 2022, Simplemarket Inc. raised USD 2.5 million in venture funding from investors 500 Global and VestedWorld, and Loyal Venture Fund Group. The CEO of the company is Steve Dakayi-Kamga. The company was founded by Steve Dakayi-Kamga and Leo Armel Tchoudjang.

BetaStore provides a marketplace and a B2B retail platform that allows informal traders to trade fast-moving consumer goods (FMCGs) from manufacturers to overcome trading with sales agents. The company also works with logistics partners to ensure the delivery of goods within 24 hours. The platform allows retailers to order products through AI channels such as SMS, Chat, WhatsApp, etc., and receive the delivery to their stores and provides financing  to the retailers to grow their businesses.

The company plans to use the funding to expand its business in Ghana, the Democratic Republic of Congo, and Cameroon.

## Funding rounds

- Seed, Mar 1, 2021, $0.7M — Consonance Investment Managers, Loyal Venture Fund Group, Janngo Capital, Beta.Ventures

## Investors

- Consonance Investment Managers (https://capitalatlas.ai/funds/consonance-investment-managers) — Seed
- Loyal Venture Fund Group (https://capitalatlas.ai/funds/loyal-venture-fund-group) — Seed
- Janngo Capital (https://capitalatlas.ai/funds/janngo-capital) — Seed
- Beta.Ventures (https://capitalatlas.ai/funds/beta-ventures) — Seed