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Nigeria still has to fill gaps in the Agricultural sector if it wants it to yield significant revenue for the economy. The most critical of these is trust. In a bid to eliminate this lack of trust, three innovative individuals, Isaiah Udotong (CEO), Ikenna Nzewi (COO), and Uzoma Ayogu (CTO), teamed up in 2017 to create an agri-tech solution – Releaf. Releaf is an online marketplace that serves as a link between buyers and sellers of agricultural products. The startup aims to increase the level of trust between both players by connecting buyers with only reputable sellers, and in return, eliminating obstacles sellers face in gaining customers.
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Modus OperandiSellers have to register and specify their merchandise. Releaf then provides them with a list of verified buyers to whom they can pitch their commodities. Sellers are then verified and buyers are allowed to decide whether they would like to accept pitches from buyers and discuss the contracts further. Sellers also have the added advantage of going through a third-party platform instead of having to cold-pitch directly to prospective clients who may not respond. In this way, they are guaranteed a 90% response rate. In the same vein, buyers also enjoy the advantage of having access to well-vetted and reputable sellers. This ensures their safety.
Achievements And MilestonesIn August 2017, Releaf secured $120,000 from Y Combinator (YC) program. This enabled them to fund their business model. In the same month of its launching Releaf had acquired about 300 active users, 100 connections, and 600 companies on the platform. Featured Image Source: MIT Innovation Initiative
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