Ghana’s retail-tech Sumundi secures investment from GreenTec Capital

Ghana’s retail-tech startup Sumundi has secured an undisclosed amount from Greentec Capital Partners. Sumundi has developed an innovative digital retail management platform designed to help retailers manage, grow, and sustain their businesses.

Sumundi’s retail management platform aims to facilitate and promote Africa’s retailers with a suite of services to help run and grow a business. Retailers, and particularly small informal retailers are the lifeblood of Africa’s economies.

Constituting an estimated 25% of the continent’s GDP and 60% of employment, the informal sector is not to be ignored. Sumundi provides an easy-to-use POS software and inventory management software to business which makes it easy for small shops and retailers to adopt technology into their businesses that facilitate inventory management and accounting. Retailers can also benefit from a range of additional services through Sumundi’s platform including e-commerce, fulfilment, and logistics.

“Small shops, formal and informal, are a very strong economic engine in Africa. Sumundi’s solution is fast-tracking the digital inclusion of these small businesses, in turn allowing them to become more efficient, grow their revenues and create new jobs. We are thrilled to be starting this journey with Sumundi’s cofounders, Awura Abena Amponsah, Gilbert Blankson-Afful and their team.” said Maxime Bayen, Senior Company Builder at GreenTec.

“We find this collaboration a great opportunity. Beyond GreenTec’s bespoke support, we are looking forward to working with their incredible team and learning from their years of expertise. We are certain that this partnership will help Sumundi create immense value for Africa, beyond what we can imagine or put a price tag on!”  said Awura Abena Amponsah and Gilbert Blankson-Afful, co-founders of Sumundi.

Greentec recently invested in a number of African startups which include Kenyan logistics startup Amitruck,  Kwiks, an innovative Moroccan digital platform that specializes in rapid personnel sourcing and Coliba, a waste management startup based in Ivory Coast.

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