Fast-rising gifting startup, Showlove, has announced a US$300,000 pre-seed funding round which was raised with the help of Fedha Capital and other angel investors.
The startup was founded in 2020 by Chikodi Ukaiwe, Joshua Biyere and Seye Bandele, and seeks to simplify the process of requesting, giving and receiving items while simultaneously helping African businesses promote their goods and services.
Explaining the reason behind the product, Ukaiwe, one of its founders who had also partnered with Jumia and Konga, had this to say:
“In our personal lives we have experienced difficulty knowing exactly what people want when we want to share gifts with them randomly or on their special occasions.
There is no real way to know exactly what a person wants without having to ask them directly, which ruins the whole experience.”
The Wishlist feature on Showlove allows users to compile a list of gifts at any location and get them shared with their friends and families.
The wishlist can be shared directly or through synching with other social media platforms. Givers have the liberty of contributing towards purchasing the gifts on the list or giving them the cash equivalent.
Ukaiwe further said, “Before now people were paying for gifts using debit cards, USSD and bank transfers. Now we are introducing a wallet that really simplifies that process, you can basically pay for anything or accept payments with your wallet. And if buying gifts isn’t your cup of tea, you can send cash to your friends at zero cost.”
Showlove is a social platform where users interact and share their wants and needs with select people based on their preferences.
Apart from its primary function of connecting requesters and receivers to givers, it also enables SMEs, vendors and hypermarkets to sell their products to users through APIs.
Showlove launched its product for public testing in December 2020. It allowed users to purchase electronic gift vouchers for their loved ones from different Nigerian businesses.
Currently, it has gone live with a full version of its product, which allows people to buy gifts, compile, receive cash and share wishlists through digital wallets.
Don’t miss important articles during the week. Subscribe to techbuild weekly digest for updates