Nigeria - Startup under 3 years old

Describe your project or startup in a few words

At Shoptreo, we empower B2B fashion distributors with inventory financing through credit, facilitating seamless supply aggregation and business expansion.

01.01 Describe your startup in more detail

Shoptreo facilitates connections between Nigerian, west African B2B distributors and fashion manufacturers from aba, effectively bridging the gap and simplifying trade for both parties while reducing the high purchasing costs for customers. For fashion merchants, We provide inventory financing through credit, while empowering fashion distributors to streamline supply aggregation and business expansion.

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

Local B2B fashion distributors that buy from Aba Nigeria (the largest fashion manufacturing markets in west Africa) often encounter difficulties in acquiring micro-loans to expand their businesses, resulting in stagnant growth, coupled with the significant challenges accessing the Aba international fashion manufacturing market in Eastern Nigeria. This often requires incurring more costs for transportation, accommodations, and logistics, just to have their goods manufactured and shipped to their local markets in Nigeria and west Africa for distribution.

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

The Shoptreo retail app allows customers to buy goods at various price points without needing a Shoptreo agent for the first time. B2B distributors now have the option to purchase goods at lower prices. For example, wholesale prices are available for orders ranging from 5 to 20 units, another pricing tier for orders between 21 and 50 units, and the lowest prices for orders of 51 units or more, along with very affordable logistics costs. The more goods purchased through the Shoptreo retail platform, the cheaper the overall cost, including logistics, which is a unique feature in the current market. Customers can request retail credit through the Shoptreo platform. Shoptreo's credit finance feature assesses customer creditworthiness by indicating the amount of credit available based on their purchases on the app. With our AI-powered WhatsApp accounting software, merchants can now manage their bookkeeping, generate sales invoices, and much more with just a click on WhatsApp

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

We tailor our approach for two main customer groups: manufacturers and B2B distributors. For manufacturers, we use direct marketing, offering a dedicated quality assurance officer for each digital store to assist with onboarding and usage. Similarly, for distributors, we focus on retail financing, ensuring compliance through thorough KYC and due diligence. Quality assurance officers are employed on an ad-hoc basis, with wages tied to the number of active digital stores they manage. This strategy emphasizes robust communication and minimizes marketing costs by linking pay to sales volume. Each manufacturer and distributor is assigned a dedicated store and quality assurance manager for streamlined operations. Technology integration expedites onboarding and facilitates workforce expansion without increasing costs.

01.05 When was your company established?

2021-11-22

01.06 Are you already selling your product/service?

Yes

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.)

George Uteh, co-founder and CEO of Shoptreo, has 15 years of experience in the Nigerian fashion and finance industry. Before co-founding Shoptreo, he worked at Zenith Bank Nigeria. Emmanuel Jacobs, co-founder and CTO of Shoptreo, has 9 years of experience in tech, with expertise in finance and the informal market. He has previously founded two businesses.

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

https://Shoptreo.com

01.11 Which industry best describes your project?

h) IT (digital services, equipment and software)

02.01.01 My startup contributes to the No poverty goal

4

02.01.02 No poverty - Justification for my startup

02.02.01 My startup contributes to the Zero hunger goal

4

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

4

02.04.02 Quality education - Justification for my startup

02.05.01 My startup contributes to the Gender equality goal

4

02.05.02 Gender equality - Justification for my startup

02.06.01 My startup contributes to the Clean water and sanitation goal

4

02.06.02 Clean water and sanitation - Justification for my startup

02.07.01 My startup contributes to the Affordable and clean energy goal

2

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

Shoptreo boosts Nigeria's economic growth by empowering SMEs in the fashion industry through inventory financing and B2B connections. By providing credit, Shoptreo helps SMEs overcome capital challenges, scale operations, and create jobs, fostering economic development. Streamlining supply chains and market access opens new business opportunities, enhancing competitiveness and innovation. Shoptreo’s support diversifies Nigeria's economy, promotes local industries, and improves product quality, driving sustainable and inclusive growth.

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

Shoptreo advances industry, innovation, and infrastructure in Nigeria's fashion sector by providing inventory financing and connecting B2B fashion distributors with manufacturers. This support helps SMEs maintain stock, meet market demands, and benefit from bulk purchasing. Financial empowerment enables investment in research, new technologies, and innovative products. Streamlined supply chains reduce costs and delays, enhancing scalability and market expansion. By fostering collaboration and partnerships, Shoptreo bridges gaps between SMEs and larger market opportunities. Their initiatives support SME growth, job creation, and improved living standards, aligning with the UN Sustainable Development Goals and contributing to Nigeria's economic development.

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

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification for my startup

Shoptreo promotes responsible consumption and production in Nigeria by empowering SMEs through credit-based inventory financing. This enables B2B fashion distributors to efficiently manage their supply chains, reducing waste and overproduction. By connecting these distributors with B2B fashion manufacturers, Shoptreo fosters local sourcing and sustainable business practices. This synergy helps SMEs scale responsibly, ensuring resources are utilized effectively and economic growth is achieved without compromising environmental and social standards. Through these initiatives, Shoptreo supports the creation of a more sustainable fashion industry in Nigeria, driving both economic and environmental benefits.

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

2

02.14.02 Life below water - Justification for my startup

02.15.01 My startup contributes to the Life on land goal

2

02.15.02 Life on land - Justification for my startup

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

4

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

Shoptreo can bring partnerships to Africa by providing B2B fashion distributors with the resources and financing needed to expand their businesses. By connecting these distributors with manufacturers, we facilitate trade and economic growth within the fashion industry across the continent. This partnership model not only supports local businesses but also promotes job creation and stimulates economic development in Africa.

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

2

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.

2

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.

2

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.

7 - Strongly Agree

06.08 Justification for my startup

Shoptreo's product revolutionizes B2B fashion supply chain management by offering tailored inventory financing and collaboration tools. Unlike traditional methods, it simplifies trade and facilitates business expansion, addressing specific industry needs. This integrated platform enhances efficiency by combining financing with supply aggregation, providing a holistic solution for fashion businesses. Shoptreo fills a market gap by offering specialized financing and streamlining supply chain processes. Its industry-specific approach represents an evolution of existing solutions, offering a more efficient and innovative option for B2B fashion operations.

06.09 Competitive Analysis

We have observed successful companies such as alerzo.com, TradeDepot.co, and omnibiz.com, which operate under a similar business model and have secured funding of over $100 million, achieving an annual GMV of over $130 million. Our respective market segments are distinct, providing opportunities for both companies to succeed. While they focus on FMCG retail in the western cities of Nigeria, we target fashion retail in the Eastern, Northern, and Western Nigeria, as well as global markets. This strategic focus positions us to succeed in our respective markets without unnecessary competition.

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

Leveraging Shoptreo's 21 female employees, I belive we have demonstrated a positive impact of female entrepreneurship within its community. By showcasing their diverse roles, experiences, and contributions to the company's success, Shoptreo can inspire and empower aspiring female entrepreneurs. This can involve highlighting the employees' journeys, achievements, and the supportive work environment Shoptreo fosters. Sharing these stories, Shoptreo can create a positive influence within its community, motivating and encouraging more women to pursue entrepreneurial ventures.