Bumpa, a Nigerian social commerce startup, seeks to help businesses with sales across social media platforms.
Bumpa, a Nigerian social commerce startup founded in 2021 by Kelvin Umechukwu and Adetunji Opayele, seeks to help companies manage their business generated across social media platforms. Bumpa began by offering companies support with inventory, engaging with customers, and recording sales and is now seeking to offer a service that connects every aspect of social media sales.
Bumpa: Business through social media channels
“With Bumpa, we’re helping business owners organize all the commerce that’s happening on their social media. They can see their top customers. They can see how much they’re making on each of these social media platforms, like Instagram. They can collect all the records, and they can sell faster through direct messaging (DMs) and request for payments because we brought all of the commerce tools right there for them in their DMS while chatting with a customer,” said Umechukwu.
Bumpa current serves over 50,000 small businesses through its platform and has facilitated or supported over 200,000 orders with a gross merchandise value of USD 20 million.
The startup uses a commission and subscription model. Charging a commission on each online transaction, the company introduced a subscription product after partnering with Meta in August. Users can still use Bumpa for free, but are limited to 25 products and 50 orders per month.
Bumpa has now raised a USD 4 million seed round led by Base10 Partners, with participation from Plug & Play Ventures, SHL Capital, Magic Fund, Jedar Capital, DFS Labs, FirstCheck Africa Angel Program, E62 Ventures, Club 14 and Fast Forward Ventures.
Luci Fonseca, Principal at Base10 Partners, said of their investment, “Bumpa is building a mission that we love and were excited to get behind, enabling e-commerce and reducing friction for millions of SMBs. The more we spent time with Kelvin and Teejay, the more we saw that they are very special founders and have a powerful mission to build the defining e-commerce platform in Nigeria and across Africa.”
The growth of MENA’s social commerce market
According to Research and Markets’ Q1 2022 Social Commerce Survey, social commerce in the MENA region is expected to grow by 70.3% on an annual basis to reach US $8.9 billion in 2022. Between 2022 and 2028, the industry is expected to grow by a CAGR of 55.2%.
MENA-region startups raised a total of USD 173 in September.