Ramani, a Tanzanian startup focused on consumer-packaged goods (CPG) supply chains, plans to introduce new financial services as it expands its operations in the East African country after raising $32 million in a Series A debt-equity round.
These MDCs are critical in ensuring consumer goods reach the market, but most still use the unreliable manual processes that are tedious, prone to errors and fail to bring supply chain visibility.
By leveraging Ramani’s technology, the MDCs can digitally track their operations easily and get financing based on the performance of their businesses.
The startup recently received its lending license from the Bank of Tanzania and has already introduced a 30-day inventory financing product in the market. Plans are underway to launch other products including a 14-day revolving line of credit allowing distributors in its network to borrow up to $500 interest free.
Ramani also plans to grow its number of partner brands, which are key to the expansion of its distributor network.
Ramani says it currently has 100 active MDCs using its platform, and they expect this number to grow exponentially as they double down their operations in Tanzania and introduce new services.