Tendo, a Ghana-based retail-tech company, has secured investment from Renew Capital to accelerate its expansion plans across Africa. While the specific amount remains undisclosed, the funding is set to bolster Tendo’s operations and help scale its innovative reseller platform. This move underscores the growing investor interest in African startups that empower micro-entrepreneurship through technology.
A Platform Empowering Online Entrepreneurs
Launched in 2021 by Felix Manford, Evans Boateng, Derrick Mungai, and Primerose Katena, Tendo provides a digital platform that enables individuals to start online businesses without upfront capital. The platform connects resellers with suppliers, handles inventory and delivery logistics, and gives users a seamless way to sell products directly from their smartphones. This model allows thousands to build income streams from home with minimal financial risk.
Strong Presence in Ghana and Nigeria
Since its launch, Tendo has cultivated a network of more than 10,000 retail resellers in Ghana and Nigeria, with the latter market opening in 2022. These resellers have reached over 42,000 customers with a wide array of products, spanning categories such as fashion, beauty, electronics, and fast-moving consumer goods (FMCG). This growth reflects the increasing demand for flexible, low-barrier retail solutions in West Africa.
Mission to Democratize Business Opportunities
Tendo’s core mission is to enable individuals, particularly those in underserved communities, to build sustainable businesses without taking on significant financial burdens. According to CEO and co-founder Felix Manford, the platform’s goal is to empower everyday people by removing traditional business hurdles like inventory costs and logistics. By simplifying the path to entrepreneurship, Tendo aims to create a new generation of digital business owners.
Renew Capital Backs Socially Impactful Innovation
Renew Capital, the investment firm behind the funding, is known for supporting startups that align financial returns with meaningful social impact. Established in 2012 by Matt and Laura Davis, the firm operates across Africa and channels investments from high-net-worth individuals, family offices, and foundations into promising ventures. Tendo fits squarely within its portfolio, offering both strong commercial potential and measurable socioeconomic benefits.
Shared Vision for Inclusive Growth
Nicholas Clerk, Renew Capital’s investment ecosystem development manager, praised Tendo’s ability to remove traditional barriers to business ownership. He highlighted the platform's power to turn smartphones into tools for economic empowerment, especially for young people and women. Clerk emphasized that this kind of digital accessibility can reshape how entrepreneurship is perceived and practiced across the continent.
Expansion Plans and Future Prospects
With fresh backing from Renew Capital, Tendo plans to grow its user base, onboard more resellers, and enhance its digital infrastructure. The company aims to expand beyond Ghana and Nigeria into new African markets where smartphone penetration is rising and traditional employment remains limited. By strengthening its technology and outreach, Tendo is positioning itself as a leading force in Africa’s informal digital economy.
Tendo’s latest funding round not only validates its business model but also reinforces its potential to transform retail across Africa. As mobile technology continues to proliferate, platforms like Tendo offer scalable solutions for entrepreneurship at the grassroots level. With Renew Capital’s support, Tendo is well-positioned to extend its impact and redefine how Africans build and grow businesses in the digital age.