Ramani, a Tanzania-based SaaS startup that captures supply chain data to drive sales visibility and enable resellers to access financial services, raised a $32 million Series A equity and debt round.
The round was led by Flexcap Ventures and an angel investor, Jared Schreiber, while debt was raised from undisclosed investors.
The funds will be used to scale its network of micro-distribution centers (MDCs) and also launch a new micro-credit offering for select MDCs. It also plans to expand across the continent, and there are plans to build a cloud network, which will be another source of revenue.
“The exceptional macroeconomic environment in Tanzania has convinced us to focus here for the next 12 to 18 months and build a strong base until we hit our Series B milestone. Then, when we’re scaling across Africa, the macroeconomic factors are going to be the main one of top indicator for where we go next,” Iain Usiri, co-founder and CEO of Ramani, said.
Global giants like Coca-Cola and Pepsi have used these MDCs. Ramani is providing a solution to these companies through its POS mobile application that stores outflow sales data on the cloud, its warehouse management software that tracks inventory, and its procurement software that tracks the inflow of goods.
Round: Series A
Funding Month: November 2022
Lead Investors: Flexcap Ventures and Jared Schreiber
Company Website: https://www.ramani.io/
Software Category: Consumer-Packaged Goods (CPG) Supply Chains Solutions
About the Company: Founded in 2019 by Kibet Martin, Iain Usiri, and Calvin Usiri, Ramani is a SaaS startup that developed an application for salespeople to track their inventory, register their customers, and record their sales transactions. Ramani provides tech-enabled inventory management systems, procurement services, and point-of-sale (POS) software to help digitize the processes of the MDCs. Ramani’s key monetization strategy is based on lending down to the MDCs, and it currently has 100 active MDCs on its platform. Ramani is building financing infrastructure for Africa's supply chain. Businesses of all sizes use its software and financial services to further their operations. It recently received its lending license from the Bank of Tanzania and will soon introduce more financing options.