Nigerian digital printing startup, Printivo, has secured seed financing from early-stage technology venture capital firm, EchoVC Partners as part of an investment aimed at broadening the company’s product range, increasing headcount, accelerating customer acquisition and scaling the business.
“Initially servicing Nigeria’s booming SME sector, Printivo is poised to capitalise on and grow Nigeria’s $200m print market, which has until now, had no credible online presence,” EchoVC Partners said in a statement.
Speaking on the deal, Oluyomi Ojo, Printivo co-founder and CEO said Printivo looks to become a big player in Africa’s $6bn printing sector.
“Securing institutional seed financing means we can accelerate the growth of our online print services & community platform and achieve the ambitious targets we have set for ourselves, as we transform an industry that has, until now, lacked digital infrastructure, investment and innovation. We can now transition print from bricks & mortar ‘mom-and-pop’ stores that struggle to scale and meet quality requirements, to online ordering and direct delivery, while enabling job creation and distribution. We are in the process of removing the friction for companies that want access to great design, transparent pricing, high quality products and fast turnaround on orders. Simple, yes, but something local printers have historically been unable to provide.”
“In EchoVC, we have found an investor and partner who has a complete understanding in growing and scaling eCommerce businesses and who sees the enormous growth opportunity Africa’s print industry presents,” said Ojo.
Source: TechCity – Paul Adepoju