Alerzo Posts Fivefold Year-to-Date Transaction Growth by Serving Nigeria’s Informal Retailers
Alerzo, one of the fastest growing B2B startups in Nigeria, announced today that its annualized September transaction volume exceeded US$155 million, growing more than fivefold since the beginning of 2021.
Since the company’s Series A fundraising this summer, Alerzo’s B2B marketplace has more than doubled in revenue and has built a payments business that now processes more than 400,000 transactions each month.
Adewale Opaleye (“Ade”) founded Alerzo in Ibadan, Nigeria’s third-largest city, in 2019. The company provides more than 150,000 informal retail stores—more than 90% of which are operated by women—with free same-day delivery, cashless payments and a portfolio of other digital services that enhance store profitability while simplifying owners’ lives.
“I started Alerzo to help my mom, a single mother who ran two informal retail stores to support me and my three siblings. Before Alerzo, she had to close her shop and travel for hours to buy inventory to stay in business,” said Opaleye, who studied physics in Nigeria and computer science in China. “Women are often victims of theft because street boys know retail store operators often carry cash. I wanted to apply what I learned in China to make life better for working mothers in Nigeria.”
This summer Alerzo acquired Shago Payments to accelerate its transformation from a B2B marketplace to an all-in-one technology platform. Shago, founded by payments industry veteran Sabastine Enechi, accelerates Alerzo’s push into digital products and financial services. With Shago’s integration into AlerzoPay, the company’s payments arm, Alerzo now provides informal retail stores with a portfolio of new digital services such as mobile airtime top-up; bill payments and peer-to-peer transfers.
Santie Botha, chairman of Capitec Bank (South Africa), recently joined Alerzo’s board as the lead independent director. “I joined Alerzo’s board because I was inspired by Ade’s life story and share Alerzo’s commitment to empower working women in Africa,” Botha said.
Iyinoluwa Aboyeji, the co-founder of Flutterwave and Andela and a member of Alerzo’s advisory board said: "Most businesses talk a good game about financial and economic inclusion but then proceed to focus their businesses on commercially savvy mega cities like Lagos or Nairobi. Alerzo's focus on excluded but commercially viable commerce communities in smaller cities like Ibadan is exemplary and visionary. I'm inspired by their focus on communities that are truly excluded.”
In addition to Aboyeji, Alerzo’s advisory board includes senior executives who have worked at KKR, Facebook, Wellington Management and Galaxy Digital, among others.
Christina Sass, one of Alerzo’s investors and an Andela cofounder, said: “Alerzo is one of the rare social enterprises where an obvious and powerful social mission succeeds in tandem with the company's financial performance.”
In September, Alerzo expanded its operations to the Middle Belt and Northern regions of Nigeria, and now operates in Abuja and Kano. The Company plans to serve most of Nigeria before the end of next year.
About Alerzo
Alerzo, headquartered in Singapore and Ibadan, Nigeria, is an all-in-one technology and services platform that transforms how Nigeria’s informal retail stores operate. With Alerzo, retailers can order stock, have it delivered quickly, receive and make cashless payments, track store profitability better, and facilitate a portfolio of digital services including airtime purchases, bill payments, and peer-to-peer transfers. Visit us at www.alerzo.com or follow us on LinkedIn, and to learn more about Alerzo please contact us at IR@alerzo.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005148/en/
Contact information
Debra Cope, +1-202-468-3814, PR@Alerzo.com
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hisense Joins HEVC Advance Patent Pool22.12.2025 03:06:00 CET | Press Release
Access Advance LLC, the global leader in video codec patent pool licensing, today announced that Hisense Group Holdings Co., Ltd. has joined the HEVC Advance Patent Pool as a Licensee. Hisense joins the recent additions to the Access Advance patent pools, including Xiaomi, MSI, Transsion, and expanded relationships with Huawei, HP and Sharp. Hisense, headquartered in Qingdao, China, is one of the world's largest television manufacturers, with a global presence spanning Asia, Europe, the Americas, and beyond. The company's products reach consumers in more than 160 countries and regions worldwide. "We are pleased to welcome Hisense to the HEVC Advance Patent Pool," said Peter Moller, CEO of Access Advance. "This agreement is the result of extensive engagement between our teams over a considerable period of time. Hisense's decision to join the pool reflects a recognition that transparent, efficient licensing solutions benefit both innovators and implementers across the video technology ec
Textron Aviation Defense Secures First Contract to Deliver Beechcraft T-6 Texan II Integrated Training System to Japan22.12.2025 02:00:00 CET | Press Release
Textron Aviation Defense LLC, a Textron Inc. (NYSE:TXT) company, today announced that the company has finalized its first contract to deliver the Beechcraft T-6JP Texan II integrated training system to Japan’s Air Self-Defense Force (JASDF), in coordination with Kanematsu Corporation. The initial contract includes two Beechcraft T-6JP Texan II aircraft and instructor pilot and aircraft maintainer training materials. Deliveries of the first two aircraft are scheduled for 2029, with additional contracts anticipated. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251221925354/en/ The Beechcraft T-6 Texan II is designed and manufactured by Textron Aviation Defense LLC, a wholly owned subsidiary of Textron Aviation Inc. “This contract marks a pivotal step in strengthening Japan’s next-generation pilot training capabilities,” said Travis Tyler, president and CEO, Textron Aviation Defense. “We’re honored to support the Japan Air Se
IonQ och QuantumBasel förlänger sitt långsiktiga samarbete till nästa generations kvantsystem20.12.2025 21:32:00 CET | Pressmeddelande
IonQ (NYSE: IONQ), världens ledande kvantdatorföretag, tillkännagav i dag ett utökat samarbetsavtal med QuantumBasel, kvantinitiativet vid uptownBasel, Schweiz internationella innovationscampus. Genom det utökade avtalet beviljas QuantumBasel äganderätten till det befintliga IonQ Forte Enterprise-systemet och blir ägare av ett nästa generationens Tempo-system. Det nya avtalet ökar det totala värdet av samarbetet mellan QuantumBasel och IonQ till över 60 miljoner USD samtidigt som IonQ:s roll i Schweiz därigenom förlängs i ytterligare fyra år, t.o.m. 2029. QuantumBasel är IonQ:s officiella innovationscenter i Europa och fungerar som ett nav för europeiska industrier, universitet och forskningsinstitut som vill utforska praktiska kvantdatortillämpningar och få tillgång till IonQ:s senaste storföretagssystem. ”Vårt förlängda samarbete med QuantumBasel utgör en hörnsten i IonQ:s globala strategi”, säger Niccolo de Masi, styrelseordförande och CEO på IonQ. ”QuantumBasel fortsätter att vara
EIG Acquires a 49.87% Stake in Transportadora de Gas del Perú (TgP)19.12.2025 18:42:00 CET | Press Release
EIG, through its managed investment vehicles, acquired a 49.87% equity stake in Transportadora de Gas del Perú S.A. (“TgP”) from Canada Pension Plan Investment Board today. TgP operates Peru’s principal natural gas and natural gas liquids pipelines under a long-term concession, supplying approximately 40% of the country’s power generation. “We are delighted to complete this transaction and embark on the next chapter of our partnership with TgP,” said Matt Hartman, EIG’s Global Head of Infrastructure. “Our priority is to support TgP’s operational excellence and long-term stability, delivering value for customers and stakeholders throughout Peru.” About EIG EIG is a leading institutional investor in the global energy and infrastructure sectors with $24.3 billion assets under management as of September 30, 2025. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 43-year history, EIG has committed over $51.7 billion to the energ
Klarna Partners With Coinbase to Add Stablecoin to Funding Mix19.12.2025 18:00:00 CET | Press Release
Klarna, the global digital bank and flexible payments provider, has partnered with Coinbase to add stablecoin funding to its broad range of traditional sources of funding, which include consumer deposits, long-term loans and short-dated commercial paper. The digital bank plans to raise short-term funding from institutional investors denominated in USDC utilizing Coinbase’s digitally native infrastructure. Adding a USDC-denominated funding source enables Klarna to access USD-like funding directly, tapping into a new pool of institutional investors. “This is an exciting first step into a new way to raise funding,” said Niclas Neglén, Chief Financial Officer, Klarna, “Stablecoin connects us to an entirely new class of institutional investors, and gives us the potential to diversify our funding sources in ways that simply weren't possible a few years ago. This is just the beginning of how digital assets can work alongside our traditional funding sources." Klarna chose Coinbase for this ini
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom