Home Business Chowdeck secures $9m for expansion

Chowdeck secures $9m for expansion

Chowdeck has raised $9 million Series A funding to expand quick commerce services into more Nigerian cities and enter Ghana’s market.

The round was led by Novastar Ventures, joined by Y Combinator and AAIC Investment. It will grow delivery speed and product variety.

Founded in 2021, Chowdeck runs a profitable delivery network in Nigeria’s low-margin food sector. It aims to dominate West Africa’s quick commerce.

In April 2024, Chowdeck secured $2.5 million seed capital from Y Combinator and Goodwater. That helped expand into eight cities nationwide.

The new capital will fund logistics upgrades, recruit staff, and widen vendor partnerships, ensuring faster service in more urban locations.

Chowdeck recently acquired Mira, a restaurant operations software firm offering point-of-sale, inventory tracking, sales analytics, and customer engagement tools.

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Mira’s founder, Ted Oladele, is now Head of Product at Chowdeck. He will develop vendor tools for better order and sales management.

Ghana has been chosen as the first international market. It will test Chowdeck’s delivery model outside Nigeria’s competitive environment.

Analysts say combining delivery services with vendor software could give Chowdeck a unique edge over rivals in Nigeria and Ghana.

CEO Femi Aluko said the funding “proves our model works and allows us to bring it to more African cities.”

With strong investors and expanded tools, Chowdeck aims to move beyond food delivery to become a leading quick commerce brand in West Africa.

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