Elloe, a US-based social e-commerce startup focused on emerging markets, announced that they have raised an undisclosed amount in pre-Seed funding.
The new funds will give Elloe sufficient runway to grow its local Kenyan operations and fuel expansion into the Philippine and Southeast Asian markets well into 2023 and beyond.
Investors for the round were led by Philippines’ Mad Ventures, Inc.
Co-founded by Owen Sakawa, Abhijay Rao, and Aaron Madolora, Elloe is a first-of-its-kind AI-powered, social commerce platform which allows merchants to buy and sell products online across any messaging platform.
Elloe’s technology increases sales and profitability of businesses by simplifying operations, logistics, payments, and marketing within a centralized merchant portal.
The subscription service is especially helpful for micro-SMEs who wish to sell their products and services online without having to pay high commissions to non-essential 3rd parties.
“We are very excited and humbled by the opportunity to partner with Mad Ventures, Inc and join its growing livelihood ecosystem as digital ambassadors to local Kenyan entrepreneurs and netizens,” said Elloe, Founder and CEO, Owen Sakawa.
