IFC, others back Nigeria transport firm with $110m

A subsidiary of the World Bank Group, the International Finance Corporation, and seven other venture capital firms have provided about $110m financing to Nigeria and United States based firm focusing on Nigeria’s retail supply chain.

A report by TechCrunch on Tuesday stated that the firm, TradeDepot had secured $110m in equity and debt financing to extend its merchant-based Buy Now Pay Later offering to more Nigerian and African businesses.

TradeDepot operates a Business-to-Business marketplace that connects small shops, kiosks and retailers with wholesalers…