Nigeria - Startup under 3 years old

Describe your project or startup in a few words

Ridefraser is a platform that simplifies and automates logistics management for e-commerce businesses, enabling efficient order fulfilment and delivery within and across borders.

01.01 Describe your startup in more detail

We're tackling the biggest headache for online businesses in Nigeria: logistics. Merchants struggle to deliver products on time and reliably, which is a major roadblock to growth and scalability. Our platform solves this by automating and simplifying logistics by providing API integrations, SDKs and an easy-to-set-up online store for those who aren't tech-savvy. These integrations help automate checkout. Businesses can easily set up an online store with us or connect their existing ones, no matter where they sell – Instagram or Facebook. We handle everything from checkout to delivery, so merchants can focus on what they do best – selling. Think of it like this: we're the backbone of e-commerce in Nigeria, making it easier for businesses to thrive and customers to get their orders hassle-free. We aggregate with multiple partners and individual couriers to make this happen,

01.02 What is the main problem you are trying to solve?

The Nigerian e-commerce space valued at 8 Billion Dollar Market with 22 million players has a major problem - although Nigeria’s small sellers (the primary players) have succeeded in finding more customers through social media, they struggle to find trustworthy ways to deliver orders. It's hard for them to get their products to or from their customers (sales and returns) quickly and reliably within and across borders/state lines. This is because delivery services are fragmented and not always trustworthy, deliveries take too long, and there aren't systems for managing orders, tracking orders or reconciling orders for the Customer and the Merchant. These factors and many more stop businesses from growing and making it difficult for them to scale.

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

Our platform offers three major benefits that tackle the core issues faced by Nigerian e-commerce businesses: Reliability & Speed: We partner with a network of trusted couriers and optimize routes to ensure fast, reliable deliveries within and across Nigeria. This means happier customers and more repeat business for merchants. Simplified Logistics: Our platform handles everything from order management and tracking to seamless returns. This saves businesses valuable time and resources, allowing them to focus on growth instead of logistics headaches. Transparency & Control: Merchants get real-time visibility into their shipments, while customers can easily track their orders. This level of transparency builds trust and ensures a smooth experience for everyone involved.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

Our platform is designed for Nigerian entrepreneurs and businesses of all sizes who sell online. This includes: Small & Medium Enterprises (SMEs): These businesses often lack the resources and infrastructure to manage complex logistics, making our platform a game-changer for their growth. Social Commerce Sellers: Merchants who primarily sell through social media platforms like Instagram, Facebook, and WhatsApp, who need a streamlined way to handle orders and deliveries. Established E-commerce Stores: Even larger online stores can benefit from our platform's efficiency and reliability, allowing them to optimize their logistics operations and focus on core business activities. Essentially, anyone who sells products online in Nigeria and wants to eliminate the hassle of logistics is our target customer. We empower businesses to reach more customers, deliver a better experience, and ultimately grow their bottom line.

01.05 When was your company established?

2022-09-01

01.06 Are you already selling your product/service?

No

01.07 How many other owners are there within your startup?

2

01.08 Among the other owners, how many are female?

0

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

Felix, our Operations Lead, brings extensive experience in people management and business development. His two years at CcHub, a leading tech innovation hub, equipped him with valuable insights into managing teams and fostering growth. His consulting work with prominent merchants like OgaBassey, Printivo, and WeJapa has honed his ability to understand and address the unique challenges faced by businesses in the Nigerian market. Amen, our Product and Tech Lead, is a seasoned professional with over three years of experience as a product manager and software developer. His diverse background includes working with MEST, a Pan-African tech incubator, Spark (a social commerce platform), and various infrastructure projects. This diverse experience has equipped him with a deep understanding of product development, technical implementation, and the ability to translate user needs into functional solutions.

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

https://www.ridefraser.com/

01.11 Which industry best describes your project?

c) Industry (equipment, commercial, logistical and professional services, transport)

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

By tackling the logistical bottlenecks that hinder e-commerce growth in Nigeria, our startup directly addresses poverty reduction. Our platform empowers small and medium-sized businesses to expand their reach, increase sales, and create jobs. Reliable and efficient logistics are essential for businesses to thrive. By providing a seamless solution, we enable these businesses to generate more income, which in turn leads to increased economic activity and job opportunities in local communities. Furthermore, our platform fosters financial inclusion by allowing small sellers, who often lack access to traditional banking services, to participate in the digital economy. This opens up new income streams and contributes to poverty alleviation. By addressing the root causes of poverty – lack of access to markets and financial services – our startup plays a crucial role in driving economic growth and creating a more equitable society in Nigeria.

02.02.01 My startup contributes to the Zero hunger goal

1 - Strongly Disagree

02.02.02 Zero hunger - Justification for my startup

02.03.01 My startup contributes to the Good health and well-being goal

4

02.03.02 Good health and well-being - Justification for my startup

02.04.01 My startup contributes to the Quality education goal

1 - Strongly Disagree

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

1 - Strongly Disagree

02.05.02 Gender equality - Justification for my startup

02.06.01 My startup contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

1 - Strongly Disagree

02.07.02 Affordable and clean energy - Justification for my startup

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

By streamlining e-commerce logistics, our platform directly fuels decent work and economic growth in Nigeria. We enable small and medium businesses to expand their operations, leading to increased hiring and job creation. This creates more opportunities for decent employment with fair wages and working conditions. Our platform also boosts economic growth by removing barriers to trade. Efficient logistics enable businesses to reach wider markets, both domestically and internationally, driving sales and revenue. This increased economic activity benefits not only the businesses themselves but also the broader Nigerian economy through increased tax revenue and investment. By empowering businesses and creating jobs, our platform contributes to a thriving economy that supports decent work for all.

02.09.01 My startup contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification for my startup

Our startup is a catalyst for innovation and infrastructure development in the Nigerian e-commerce sector. We're building the digital infrastructure that allows businesses to thrive online by seamlessly connecting merchants, customers, and delivery partners. Our platform introduces innovative solutions like API integrations, real-time tracking, and efficient return management, all of which are relatively new in the Nigerian market. By setting new standards for e-commerce logistics, we're driving industry-wide innovation and encouraging other players to adopt more efficient practices. Furthermore, our reliable delivery network acts as a crucial infrastructure, linking businesses to customers across the country. This strengthens the overall e-commerce ecosystem and contributes to the growth of a robust digital infrastructure in Nigeria.

02.10.01 My startup contributes to the Reduced inequalities goal

4

02.10.02 Reduced inequalities - Justification for my startup

02.11.01 My startup contributes to the Sustainable cities and communities goal

4

02.11.02 Sustainable cities and communities - Justification for my startup

02.12.01 My startup contributes to the Responsible consumption and production goal

4

02.12.02 Responsible consumption and production - Justification for my startup

02.13.01 My startup contributes to the Climate action goal

4

02.13.02 Climate action - Justification for my startup

02.14.01 My startup contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

1 - Strongly Disagree

02.15.02 Life on land - Justification for my startup

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

1 - Strongly Disagree

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

02.17.01 My startup contributes to the Partnerships for the goal

7 - Strongly Agree

02.17.02 Partnerships for the goal - Justification for my startup

We Partner with: Local Businesses: We empower small and medium enterprises (SMEs) by providing them with the tools and infrastructure to compete in the digital marketplace. This directly supports their growth and contributes to the local economy. Delivery Companies: We collaborate with a network of reliable delivery partners, ensuring efficient and timely order fulfillment. This partnership benefits both parties, as it expands the reach of delivery companies while enhancing our service quality. Financial Institutions: Our platform provides insurance on all goods to reduce losses for the merchants and liabilities for the couriers. We're also exploring partnerships with banks and fintech companies to offer financial services like payment processing and micro-loans to merchants on our platform. This promotes financial inclusion and supports the growth of small businesses.

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

5

06.02 The product/service represents an entirely new type of product/service.

7 - Strongly Agree

06.03 The product/service could be described as a new technology.

7 - Strongly Agree

06.04 The product/service is an improvement on an existing product or service.

7 - Strongly Agree

06.05 The product/service could be described as an extension of a range of products or services.

7 - Strongly Agree

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

06.07 The product/service is a new version of an old product/service.

4

06.08 Justification for my startup

We strongly agree that our platform addresses an unmet need in the Nigerian market. While existing logistics providers exist, they often lack the specialized solutions and technology required for efficient e-commerce fulfillment. We differentiate ourselves by offering a comprehensive platform that integrates seamlessly with online stores, providing features like real-time tracking, streamlined returns, and automated order management. This solves the pain points of fragmented services, unreliable deliveries, and lack of transparency that plague the current market. Our platform is a significant improvement on existing solutions, combining the best of traditional logistics with cutting-edge technology to create a user-friendly, efficient, and scalable solution for e-commerce businesses in Nigeria.

06.09 Competitive Analysis

Our main competitors, like Shipbubble and Sendstack, focus on large merchants and established couriers, neglecting the needs of smaller businesses and social sellers. Traditional couriers like DHL and GIG, while reliable, lack the technological innovation and e-commerce focus we provide. We stand out by offering a comprehensive, user-friendly platform with an on-demand, localised courier network. tailored specifically for Nigerian e-commerce businesses of all sizes. We seamlessly integrate with online stores, provide real-time tracking, and simplify returns, addressing the pain points that other solutions overlook.

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?