# Pricepally Nigeria

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pricepally-nigeria

- Industry: Logistics & Distribution
- Headquarters: Lagos, Nigeria
- Website: www.pricepally.com
- Total disclosed funding: $1.4M
- Latest round: Seed (Nov 17, 2023)
- Investors on record: 6

## About

Based in Nigeria, established in 2019 by Luther Lawoyin, Jumai Abalaka, Deepak Bansal, and Monsunmola Adefemi, Pricepally Nigeriar Limited is a digital food cooperative platform for African cities. In November 2023, Pricepally Nigeria Limited raised USD 1.3 million in seed funding led by Samurai Incubate, with participation from Chui Venture, elea Foundation for Ethics in Globalization, Hi2 Investment, and SOSV. The firm as of February 2024, is operational in 4 cities including Lagos, Abuja, Ibadan, and Port Harcourt.

Pricepally offers a platform that enables families and businesses to purchase food in bulk or share bulk food items with others, decreasing the overall cost for many families and positively contributing to eradicating hunger in various communities. The company aims to tackle exorbitant food prices in African cities, increasing access to food resources for all. The food is sourced directly from farmers and wholesalers, resulting in a cost-effective source of grocery items when compared to retail store prices. The firm enables users to split the price of food items with other shoppers and have their share delivered to them. E.g. they can use Pally to share a bag of rice at wholesale price with 4 other people instead of buying a bag. The users' shares will be delivered immediately without waiting for other people to buy the other shares.

Pricepally plans to utilize the November 2023 funding to expand its online grocery store.

## Funding rounds

- Seed, Nov 17, 2023, $1.3M — SOSV, Samurai Incubate, elea, Hi2 Investment Management, Orbit Ventures, Chui Ventures
- Seed, Sep 15, 2021, $0.1M — SOSV

## Investors

- SOSV (https://capitalatlas.ai/funds/sosv) — Seed
- Samurai Incubate (https://capitalatlas.ai/funds/samurai-incubate) — Seed
- elea (https://capitalatlas.ai/funds/elea) — Seed
- Hi2 Investment Management (https://capitalatlas.ai/funds/hi2-investment-management) — Seed
- Orbit Ventures (https://capitalatlas.ai/funds/orbit-ventures) — Seed
- Chui Ventures (https://capitalatlas.ai/funds/chui-ventures) — Seed