Agri-tech Startup, Pricepally, Launches Food Buying Platform For Food

Pricepally, an Agri-tech startup in Nigeria, has launched a group-buying platform that aggregates consumer food demand in urban cities and matches it with supplies directly from farmers and wholesalers. 

Launched in November, the startup aims to cut out middlemen and save consumers money by leveraging technology to aggregate demand via a sharing model.

Users can log in to the Pricepally website or apps to purchase foods either outrightly or by arranged shared purchases, with these items bought from wholesalers or farmers divided accordingly and then shipped to each customer or a group destination.

The co-founder Luther Lawoyin said that “The idea came up late last year. After three months of data gathering of my family expenses by my wife, we discovered we spent over half of our income on food monthly.”

“More research made us understand how much of a huge problem this was across Africa and other developing nations. We decided to solve this problem by buying in bulk with other families, which helped to reduce our monthly spending by as much as 25 percent. After this advantage was proven, we decided to add the technology layer to improve it and be able to serve more people.”

The concept is now available to all Lagosians after a brief pilot, with Pricepally taking part in a couple of startups programs, the MIT venture scaling Bootcamp in September and the Ayadalab program run by the French and German governments – to get its model right. Lawoyin is pleased with uptake.

“The growth rate per day is north of 60 percent, and we are bombarded with inquiries and interest every day. We have been getting a lot of useful feedback in improving the product,” he said.

According to him, the startup is looking to open in other cities in Nigeria within a year of operation and to expand to other urban African cities in the coming year.

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