TradeDepot's total funding now stands at $123M. Here are the top-line bullets you need to know.
TradeDepot, a B2B e-commerce and embedded finance platform, has raised $110M in equity and debt funding. The $42M Series B round drew participation from the International Finance Corporation, MSA Capital, and the CDC Group, among others. Arcadia Funds and some undisclosed investors have contributed the $68M in debt funding.
How’s the company performing?
- Nigeria-based TradeDepot provides credit to retailers, enabling them to access inventory and pay back in installments as they sell products to their customers.
- The company’s client list includes Unilever, Nestle, Kelloggs, Danone, and GB Foods, among others.
- TradeDepot has over 100 suppliers and more than 100K stores on its platform.
- The company operates across 10 Nigerian cities, and it maintains a limited presence in South Africa and Ghana.
Why does the market matter?
- The global digital lending platform market is expected to reach a value of $27.1B by 2028, growing at a CAGR of 18.13%, according to Verified Market Research.
- Today, BNPL accounts for a small portion of the overall annual spending on payment cards (including credit, debit, and prepaid cards) — which currently sits around $8T. However, BNPL is at an inflection point. By 2025, the global BNPL industry is expected to grow 10–15x its current volume, topping $1T in annual gross merchandise volume by some estimates. This growth trajectory has incumbents paying close attention and increasing their efforts to improve the digital user experience.
- There have been major acquisitions in this space as well, such as Square acquiring AfterPay for $29B.