Focused on local and international deliveries for e-commerce and social commerce merchants, Nigeria-based startup, Sendbox, has raised $1,800,000 in seed funding.
4DX Ventures, Enza Capital, FJLabs, and Golden Palm Investments took part in helping Sendbox further achieve its mission through the seed round. Having been a part of YCombinator’s 2021 winter batch, Y Combinator and Flexport also participated in the round.
Founded by Emotu Balogun and Segun Afolahan, Sendbox provides infrastructure for shipping, escrow payments and discovery services to merchants and customers in North America, Europe and Africa.
The company has a goal to enable small e-commerce merchants make direct sales to buyers seamlessly, leveraging its platform which can be accessed via iOS, Android, web, Whatsapp, Facebook, Instagram, among other e-commerce platforms and developer APIs.
So far, the three-year-old company affirms to have reached over 10,000 merchants through these channels and have made over 200,000 deliveries, with 30 to 45% being international deliveries.
With a goal to expand its product capabilities and reach across the West African continent and beyond, the company asserts to have had yearly revenue and transactions growth of 300% in the last three years and seeks to go higher within a short period.
Utilising the funds raised, Sandbox seeks to become the e-commerce operating system for African merchants and logistics, integrating e-commerce, logistics, and payments into its operations.
In addition to services rendered, Sandbox helps to increase the visibility and distribution of products and services for merchants, improve operations & sales and automate the distribution of products via its platform.
Sendbox makes local deliveries within Nigeria and international deliveries to over 200 countries. While Lagos, Abuja, Port Harcourt and Ibadan are on top of the list for local deliveries, Canada, the United States and the United Kingdom top the list for international deliveries.
The current funding raised increases Sandbox’s total investment by over $2,000,000, including the pre-seed funding received from Microtraction and 4DX Ventures three years ago.