Frankfurt (Germany) and Lagos (Nigeria), July 2020. GreenTec is very pleased to announce our investment in Pricepally, an innovative digital Nigerian wholesale platform allowing users to purchase food and other products either individually or as a part of a group.
Building on principles of the Shared Economy, Pricepally brings consumers together directly with farmers, manufacturers, and wholesalers to mutual benefit. A novel feature of the Pricepally platform is a social component which allows users to make purchases as groups for even deeper savings. To date the platform has grown substantially driven, in part, by increased demand created by the global pandemic. Pricepally’s ambitious plans are to re-imagine the food system in Africa, by connecting relevant stakeholders through their platform and building out the infrastructure to reach more Nigerians. Currently, Pricepally is available in the Lagos area and offers 1-2 day delivery on orders.
Maxime Bayen, Senior Company Builder at GreenTec Capital Partners said “At the origin of Pricepally was the deep desire from a group of people to allow households to access essential and quality food at more affordable price. We, at Greentec Capital, are thrilled to be supporting this team of young, brilliant and gender balanced co-founders on such an important mission !”
Luther Lawoyin, CEO of Pricepally said “At Pricepally we are excited about our collaboration with GreenTec Capital, we see this as a significant step in achieving our vision of a sustainable food system for urban African cities. We are very aware of the huge challenge ahead but we are also very confident in this partnership and we look forward to the future.”