Nigeria’s ShopEX, a multi-channel retail business and exclusive distributor of some of the world’s most successful “As Seen On TV” products has raised a US$635,000 pre-seed funding round to continue growing its team, brand, and operations, and to expand into new markets. Founded in 2018 by Isi Abebe, ShopEX is on a mission to bring teleshopping to the everyday life of Nigerians by creating direct-to-consumer live shopping experiences. “The launch of ShopEx perfectly coincides with rising e-commerce and maturing logistics and payment platforms across Africa. Topping up capital from existing investors, the round takes ShopEX’s total raised funding to date to US$885,000. The funding round will enable ShopEx to continue growing its team, brand, product agreements, inventory, and operations into new markets, with Ghanaian expansion already underway.

Source: The North Africa Journal June 08, 2022 10:57 UTC