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OurPass closes $1,000,000 pre-seed round in quest to redefine online shopping across Africa

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OurPass
Founders of OurPass, Rogers Mugisa, Gbeminiyi Laolu-Adewale and Samuel Chukwunonso Eze

Indeed, the e-commerce sector is thriving fast globally and innovative minds such as OurPass, are putting forward new and sustainable solutions to make the sector thrive even better.

Today, OurPass officially unveiled its mobile app referred to as the fastest one-click checkout for digital commerce.

Themed, ‘Redefining The Online Shopping Experience’, the virtual event included investors, media personnel, among others, and of course, the team of OurPass.

The CEO and Founder, Samuel Chukwunonso Eze started this journey 12 months ago. He was inspired to make online shopping seamless after watching his mother, family and friends struggle for so long to carry out online shopping transactions.

“She had to set up multiple accounts on different platforms while going through a rigorous check out process. In many cases, she ended up dropping the cart and moving on to a different online store.”

In a bid to resolve this issue, Eze carried out research and found out that the problem went beyond his immediate environment to every part of the world.

Online merchants lost revenues because shopping carts were put aside yearly, accounting for about 75% of abandoned carts, “a huge missed revenue for merchants, ” he said.

The OurPass mobile app enables consumers to shop in one-click, thereby reducing abandoned carts and increasing sales for merchants. The platform makes shopping online faster, safer and easier for consumers to buy and merchants to sell by increasing sales conversion rate and boosting sales overall.

OurPass is entirely consumer-facing and invests heavily in its users’ privacy and data security. We don’t act as the merchants’ customers database, we just try to inject consumers faster and easier than they ever have; thereby increasing sales. Merchants on the other hand, just need to sign up on our web platform, provide their KYC and install the OurPass checkout button for consumers to shop from them in one-click,” Eze further pointed out.

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The company secured a pre-seed funding of $1,000,000 earlier this year. The round was led by Tekedia Capital, and angel investors including Barbara Salami, Isaac Ewaleifoh and Chinedum Ikeagbu.

Speaking on the launch, Professor Ndubuisi Ekekwe, founder at Tekedia Capital said:

The very first time the OurPass team came to me, they pitched a very amazing promise of how you can actually check out on digital platforms with just a click. I saw leverageable factors,” he said.

In these caviar moments, we are seeing an explosive growth of entrepreneurial capitalism across market segments. I knew something amazing when I saw it. It’s going to be very helpful for merchants and amazingly good for users, reducing the friction customers encounter when purchasing goods online. I’m so excited because a new potential unicorn is born,” he concluded.

The company plans to leverage the investment in expansion and growth, hiring outstanding minds to further help in developing its technology.

In a bid to drive more merchant acquisition, the startup acquired Storemia, an e-commerce marketplace for small businesses.

Bolu Oluwagbesan, the former CEO at Storemia said:

The coming together of Storemia and OurPass is one of the most revolutionary mergers in the Nigerian tech space. Storemia is the easiest and fastest way to create e-commerce websites and OurPass is the fastest check out tool for e-commerce stores. So the power of both leads to a super product.

I’m very excited about this, as I can’t wait to have you experience the coming together of Storemia and OurPass as one product.”

Barbara Salami, one of the angel investors expressed her confidence in the startup, saying the team has put together the right products that enable agility and flexibility which will drive increased value and loyalty from consumers. “I am super thrilled that the OurPass team has decided to take on this challenge, ” she said.

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Isaac Ewaleifoh and Chinedum Ikeagbu also commended the startup’s innovative move.

Free delivery on all orders for customers and 0.8% per transaction capped at N1,000 for merchants or businesses are other product offerings the company has for its users.

The company has a vision to be the go-to platform for consumer checkout across the web by 2023.

​Joan Aimuengheuwa is a content writer who takes keen interest in the scopes of innovation among African startups. She thrives at meeting targets and expectations. Contact: [email protected]

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