Waribei, an Ivorian fintech startup founded in 2023, has raised €750,000 ($821K) in pre-seed funding from Mstudio and Saviu Ventures. The capital infusion will enable Waribei to expand its digital platform, which aims to streamline financial transactions between retailers, wholesalers, and banks across Francophone West Africa. The platform offers real-time payment terms and boosts access to working capital, addressing the liquidity challenges that many small and medium-sized businesses (SMEs) in the region face.
Waribei’s core mission is to improve cash flow for retailers and wholesalers, who often struggle to maintain sufficient inventory due to the lack of accessible and affordable credit. By partnering with banks and microfinance institutions, Waribei aims to close this gap, facilitating the smooth flow of goods and capital in the informal retail sector, which is vital to West Africa’s economy.
Co-founder Ladislas Pham highlighted the importance of understanding the realities on the ground. “Our work starts with listening to retailers and wholesalers. We spend time in the markets, understanding the daily struggles they face, so we can design solutions that truly address their needs,” he said. “At Waribei, we want to ensure that merchants can grow their businesses without worrying about maintaining stock levels or struggling to get loans.”
A Strategic Investment for Saviu Ventures
The investment from Saviu Ventures marks a significant step in Waribei’s journey, as the firm is one of the most active investors in Francophone Africa. Saviu Ventures’ contribution comes from its second fund, which focuses on early-stage, tech-enabled startups across the region. Known for its practical, hands-on involvement with portfolio companies, Saviu Ventures aims to help Waribei expand its operations and scale its impact.
Saviu Ventures has a track record of supporting startups that address critical needs in Africa’s financial ecosystem, with a portfolio that includes companies such as Anka, Julaya, and Lapaire. The firm’s investment in Waribei reflects its ongoing commitment to boosting financial inclusion in underbanked markets.
Waribei was founded by Ladislas Pham and Frédéric Fameni. The startup’s platform addresses a long-standing issue in West Africa’s retail sector: the limited availability of credit to SMEs. Retailers, often the backbone of the informal economy, rely heavily on having steady cash flow to purchase inventory, and Waribei’s solution aims to unlock new growth opportunities for these businesses.
With this fresh injection of capital, Waribei is poised to deepen its presence in Côte d’Ivoire and explore opportunities across Francophone West Africa. The startup’s ability to bridge the gap between financial institutions and the region’s small retailers will be critical as it looks to scale.