Botswana-based start-up e-commerce venture Ponatshego has recently closed its first round of outside funding, raising P250,000 from members of the Angel Network Botswana (ANB).
The round was led by property tycoon Mompoloki Lerumo Mogobe and Arun & Arjun Iyer, founders of Insurtech company Alpha Direct.
Follow investments from the LBC Investment Group and Mythri Sambasivan-George, Managing Director of strategy, ESG and enterprise advisory firm, Vetri Consulting, closed out the investment round for the young startup.
Tsoga Africa the local accelerator led by successful business leaders, Lerang Selolwane and Ebrahim Mohamed, participated in the round and are actively working with the startup to build its model and activate exponential customer acquisition Ponatshego was founded in August of 2020 by Motshidisi Ngaiti and William Whittle, and
has been rapidly acquiring customers during the COVID-19 pandemic, as consumers shift
purchases to digital channels.
The company leverages its access to social media influencers and unique products which are not available in the local market to attract customers. Within 10 months of launching, Ponatshego has acquired over 1,000 active users in Botswana.
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About Angel Network Botswana (ANB)
Angel Network Botswana (ANB) is a network of business angels seeking to invest their personal funds into growth-oriented businesses/start-ups with exciting products and services.
We give the entrepreneurs we invest in access to networks and mentorship with the aim of building a
sustainable business ecosystem.
Our members come from different industries and backgrounds, bringing a combined wealth of knowledge and resources that enable us to diversify risk, make larger investments and screen projects more efficiently.
ANB aims to support existing efforts to facilitate the development and emergence of an active early-stage
investment community thereby contributing to the emergence of a new breed of vibrant entrepreneurs who catalyze economic growth and diversification.
Ponatshego was Founded in 2020 during the era of the Corona Virus(Covid-19) and was meant to ease the way in which business was done in Botswana and the rest of Africa.
The main mission of Ponatshego is to ease the difficulty all vendors face of getting their goods to the final consumer.
Ponatshego achieves this through its online market where different vendors are given a platform to showcase all their products and are actually able to make the final sale no matter where they may be in the world, all through the Ponatshego online market, secondly Ponatshego prides itself in selling only 100% Authentic products to its customers.
About Tsoga Africa
Tsoga Africa is raising a generation of African entrepreneurs inspired to apply their entrepreneurial capital to solve Africa’s problems while building sustainable enterprises.
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