Green Lion, the B2B retail-tech start up, today announces it has raised a debt round for an undisclosed amount, from Spanish impact fund Global Social Impact.
Green Lion’s e-commerce platform connects merchants to local and multinational suppliers, digitizes orders, payments and delivery-logistics, as well as providing merchants with microfinancing solutions.
Since launching in 2018, Green Lion has expanded to 4 cities within Ghana and with this fundraise, the startup plans to accelerate its growth and broaden its client services – from working capital to data-analytics – before targeting new African markets, according to CEO Jorge de Rojas.
“In just 2 years, Green Lion has become the largest B2B e-commerce platform in Ghana with over 4,000 informal retailers. Thanks to GSI, we will be able to accelerate the expansion of our network, transforming how communities across Africa access goods and credit and improving their lives.”
For the moment, the startup’s main focus is to reduce costs and increase profit margins for small merchants. In addition, Green Lion is developing tools for customers to better manage key aspects of their business, in particular regarding stock keeping and sales and profit control.
“Green Lion fintech team uses data analytics to offer working capital solutions to many informal shops that otherwise wouldn’t be able to access financing.” Said Jorge.
The company expects to continue growing and is on track to reach 15,000 customers within 2022, and continue its expansion across West Africa.