Waribei, a fast-growing Ivorian fintech startup, has raised €750,000 (approximately $820,462) in pre-seed funding to advance its inventory financing solution for small traders across Africa. The funding round includes €500,000 from Mstudio and €250,000 from Saviu Ventures.
Founded in 2023 by Ladislas Pham and Frederic Austin Fameni, CDTO, Waribei aims to transform informal commerce by connecting banks, wholesalers, and retailers through a payment tool that formalizes access to working capital. The platform enables retailers to purchase goods on credit and allows wholesalers to manage payment terms within traditional distribution channels, supported by bank liquidity.
Co-founder Ladislas Pham emphasized the company’s approach of understanding merchants’ daily challenges through market research.
“We started by engaging directly with retailers and wholesalers, immersing ourselves in marketplaces to truly understand the everyday challenges they face. This allows us to design solutions that meet their real needs.”
Waribei Co-Founder, Ladislas Pham.
The startup aims to address the financing gap that has hindered growth in Africa’s informal sector, where women make up a significant portion of participants.
This investment highlights the growing importance of fintech solutions in empowering small businesses across Africa, particularly in addressing the challenges faced by women traders in maintaining steady stock supplies due to limited access to traditional financing options.
