Ghanaian retail technology startup Tendo has announced the closure of an important, undisclosed funding round led by Renew Capital, aiming to scale its operations and deepen its impact across Africa. Founded in 2021 by Felix Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, Tendo offers a platform that empowers individuals to start online retail businesses without needing upfront capital.
Tendo connects resellers with verified suppliers, managing inventory and logistics to simplify the process of entrepreneurship. Its platform enables anyone with a smartphone to earn income from home, reducing traditional barriers to business ownership. Since launching in Nigeria in 2022, Tendo has supported over 10,000 resellers and served more than 42,000 customers across various categories, including fashion, beauty, electronics, and FMCG.
CEO Felix Manford explains that Tendo’s platform is designed to minimize risks often associated with starting a business, allowing users to focus on selling and earning while the platform handles delivery and stock management.
Renew Capital, established in 2012 by founders Matt and Laura Davis, is a pan-African investment firm that partners with high-net-worth individuals, foundations, and family offices seeking both financial returns and social impact. Nicholas Clerk of Renew Capital highlighted that Tendo’s model eliminates traditional barriers to commerce, making business ownership more accessible and frictionless.
With this new funding, Tendo plans to enhance its technology, onboard more resellers, and expand into additional African markets, bringing greater opportunities to underserved communities across the continent.
What This Means
By handling logistics, inventory, and payments, Tendo lowers the entry barriers for aspiring entrepreneurs, especially in underserved areas. As mobile connectivity continues to grow across Africa, platforms like Tendo could revolutionize local trade—making it more organized, supported, and accessible to everyone eager to earn on their own terms.
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