Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Capital on the Frontier Best Practices Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

Nigerian agribusiness portal Releaf heads to Silicon Valley

Releaf, which connects buyers and sellers of ag-related products and services, was selected for Y Combinator’s exclusive Summer 2017 program.

As part of the program, the company will get a $120,000 investment from one of the Valley’s most popular accelerators in exchange for a 7% stake; the funds will be used to help Releaf hit its goal of 20,000 registered businesses within a year.

Agriculture constitutes a quarter of Nigeria’s formal economic activity (and a larger share of the informal economy), but sellers have a hard time connecting to buyers.

“Most business originates through word of mouth,” limiting opportunities for other business-to-business platforms, says co-founder Ikenna Nzewi.

Releaf’s referral-based service functions like a LinkedIn or Facebook where members can tap common connections, post open bids and pitch for contracts. The portal launched last week and so far has enrolled 1,000 companies, Nzewi told ImpactAlpha.

The founders eventually want to expand to other kinds of trade across Africa.

You might also like...