PricePally has raised a six-figure round from, Launch Africa Ventures, Samurai Incubate, and other Angel Investors. The investment was motivated by the recent traction from the group based in Lagos. The new investment is barely a year after receiving investment from Frankfurt-based GreenTec Capital.
The digital food cooperative connects buyers directly to producers while implementing a social buying option for friends and strangers when sharing bulk purchases and reducing costs. The urban food prices in Africa, particularly around Lagos, are volatile and buyers face unprecedented markups from urban food retailers and upcoming markets.
Rena Yoneyama, a Managing partner at Samurai Incubate described their position as “extremely happy” in supporting PricePally. Lawoyin, PricePally’s CEO expressed psyche in the new backing from VCs and angels. He also mentioned how the startup has a great deal of work ahead to execute its plans.