Retail-tech startup Tendo, which has built a strong network of over 10,000 retail resellers in Ghana and Nigeria—where it launched in 2022—has received investment from Renew Capital to support its expansion efforts.
Tendo, which enables individuals to start and grow their online businesses without any initial capital, has not disclosed the exact amount of the funding it received.
The startup has already reached over 42,000 customers with a wide range of products including fashion, beauty, electronics, and fast-moving consumer goods (FMCG).
Felix Manford, co-founder and CEO of Tendo, stated:
“Our mission is to create opportunities for individuals to build businesses with minimal risk. By providing a seamless platform that takes care of inventory and delivery, we make it possible for anyone to earn money online from home.”
With this investment, Tendo aims to expand its platform and onboard more resellers.
If these goals are achieved, more individuals across the continent will be able to earn an income and grow their businesses using only their smartphones.