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Chowdeck Secures $2.5 Million in Seed Funding, Spearheading Growth in Nigeria’s Food Delivery Sector

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Tobi Fasipe, Rider Operations Lead at Chowdeck, announced today a significant milestone in the company’s journey, as it secured $2.5 million in seed funding. This investment marks a pivotal moment for Chowdeck, highlighting its rapid expansion and commitment to revolutionizing the food delivery landscape in Nigeria.

Fasipe expressed his excitement about the recent achievements, citing the remarkable growth of Chowdeck’s on-demand delivery service. From processing just 1,000 deliveries daily upon his arrival, the company now boasts a dedicated team of over 3,000 riders handling an impressive 14,000 deliveries per day across 8 major Nigerian cities.

The meteoric rise in delivery volumes underscores Chowdeck’s relentless pursuit of excellence and dedication to providing exceptional service to its customers. This commitment is further evidenced by the company’s Gross Merchandise Value (GMV), which skyrocketed from ₦1 billion in October 2023 to an impressive ₦2.4 billion by March 2024, marking a remarkable 140% increase in just six months.

Central to Chowdeck’s success is its investment in its rider network, which forms the backbone of its operations. Riders earn competitive wages ranging between ₦100,000 and ₦150,000, aligning with the monthly salaries of senior civil servants in Nigeria, and empowering them as breadwinners of their families.

The funding round was led by prominent investors, including Y Combinator, Goodwater, Shola Akinlade, Ezra Olubi (Paystack co-founders), Simón Borrero, Juan Pablo Ortega (Rappi co-founders), and June Angelides MBE, among others. Their confidence in Chowdeck’s vision underscores the company’s potential to reshape the food delivery landscape in Africa.

As Chowdeck embarks on the next phase of its growth journey, it remains committed to delivering exceptional service, fostering a culture of innovation, and creating value for all stakeholders. The company extends its gratitude to its customers, riders, vendors, and employees for their unwavering support and dedication.

With its sights set on reshaping the food delivery landscape in Africa, Chowdeck is poised for continued success and growth, promising an extraordinary journey ahead.

Chowdeck is a leading on-demand food delivery service based in Nigeria, dedicated to revolutionizing the food delivery landscape across Africa. With a commitment to exceptional service and innovation, Chowdeck connects customers with their favorite restaurants and vendors, delivering delicious meals straight to their doorsteps.

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