Nomanini launches StockNow, a digital retailer solution, to bring affordable working capital to Africa’s informal retail markets
Nomanini, a pioneering integrated digital fintech platform that connects merchants, distributors and service providers to overcome fragmentation, launches StockNow, a digital retailer solution, to bring affordable working capital to Africa’s informal retail markets.
StockNow is an easy-to-use app that makes it possible for informal micro and small retailers to purchase stock digitally and conveniently. The app connects retailers to distributors of global FMCG brands relevant in the general trade market, enabling retailers to purchase goods using stock advances to keep their shelves stocked with essential goods, ensuring business continuity and support for last-mile consumers.
Ten million informal retailers in Africa are reached by global FMCG value chains but lack access to responsible and affordable finance solutions to keep their shelves stocked to attract customers and grow their businesses.
Going live in Tanzania with a key partner Nestlé, Nomanini’s launch of StockNow has formalised the relationship enabling a more strategic approach to alleviate some of the challenges experienced by retailers in Africa’s general market, especially as they recover from the effects of the pandemic.
For Nomanini, the launch of StockNow marks a big shift from enterprise B2B technology solutions to a move into embedded stock advances in the FMCG value chain. The platform is a state-of-the-art single cloud-based multi-tenant financial services platform that can be configured to new markets leveraging over 10 years of experience building retailer-centered solutions.
Verdant Capital is currently advising Nomanini on a USD 5 million Series A equity capital raise.
Source: StockNow press announcement