# Vendease

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

- Industry: Food
- Headquarters: Lagos, Nigeria
- Website: www.vendease.com
- Total disclosed funding: $23M
- Latest round: Series A (Sep 26, 2022)
- Investors on record: 13

## About

Founded in 2019, Vendease Limited is a digital marketplace based in Lagos, Nigeria, facilitating online procurement of food supplies for the food service industry, enhancing efficiency for restaurants and food businesses in Nigeria and Ghana.Vendease Limited is a digital platform that specializes in the online procurement of food supplies, headquartered in Lagos, Nigeria. The company was founded by a group of entrepreneurs including Dave Berman, Gatumi Aliyu, Jonny Holmes, Olumide Fayankin, Oyewale Oyepeju, and Tunde Kara. In September 2022, the firm raised USD 20.00 mn in Series A funding, co-led by Partech Partners and TLcom Capital LLP, with participation from various investors including Global Founders Capital and VentureSouq. The funding was part of a total of USD 30.00 mn in equity and debt financing. Vendease has completed a total of 4 deals since its inception.Vendease is a digital marketplace that specializes in the online procurement of food supplies, targeting the food service industry in Nigeria and Ghana. The company offers a wide range of food items, including meat, seafood, fruits and vegetables, dairy products, dry goods, and essential kitchen supplies. It provides a user-friendly platform where restaurants, hotels, cafes, and other food businesses can conveniently order products, featuring a real-time tracking service for deliveries. Vendease aims to address supply chain challenges by offering competitive pricing and flexible payment options, including a "buy now, pay later" scheme, serving clients across over 20 states and regions.Vendease operates on a revenue model that includes transactional sales directly to clients, primarily within a Business-to-Business (B2B) framework. Food service establishments place orders for various supplies, with pricing structured around individual items. Flagship products such as Kings Vegetable Oil, Golden Penny Prime Flour, and various dairy products are offered at competitive prices. Additionally, the company may implement subscription services or partnership agreements with larger clients, providing tailored solutions to meet specific needs, fostering repeat business.In September 2022, Vendease Limited raised USD 20.00 mn in Series A funding, which will be utilized for business expansion in Nigeria and Ghana. The company plans to introduce new products aimed at enhancing its offerings, though specific release dates have not been disclosed. Vendease is actively targeting geographic expansion in additional markets within West Africa, leveraging the recent funding to bolster its operations and enhance its supply chain capabilities.

## Funding rounds

- Series A, Sep 26, 2022, $20M — Partech Partners, TLcom Capital, Global Founders Capital, VentureSouq, Hustle Fund, Hack VC, Kairos Angels, Magic Fund, Kube VC
- Seed, Oct 26, 2021, $3.2M — Y Combinator, Global Founders Capital, Soma Capital Partners, Liquid 2 Ventures, Hustle Fund, Hack VC, Magic Fund
- Seed, Mar 23, 2021, $0.1M — Y Combinator, Holland George Capital Management

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Holland George Capital Management (https://capitalatlas.ai/funds/holland-george-capital-management) — Seed
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed, Series A
- Soma Capital Partners — Seed
- Liquid 2 Ventures (https://capitalatlas.ai/funds/liquid-2-ventures) — Seed
- Hustle Fund (https://capitalatlas.ai/funds/hustle-fund) — Seed, Series A
- Hack VC (https://capitalatlas.ai/funds/hack-vc) — Seed, Series A
- Magic Fund (https://capitalatlas.ai/funds/magic-fund) — Seed, Series A
- Partech Partners (https://capitalatlas.ai/funds/partech-partners) — Series A
- TLcom Capital (https://capitalatlas.ai/funds/tlcom-capital) — Series A
- VentureSouq (https://capitalatlas.ai/funds/venturesouq) — Series A
- Kairos Angels (https://capitalatlas.ai/funds/kairos-angels) — Series A
- Kube VC (https://capitalatlas.ai/funds/kube-vc) — Series A