Renda

Renda is a Nigerian technology company that simplifies order fulfilment and retail distribution for businesses in Africa. Its flagship offering, Renda 360, is an end-to-end logistics solution covering on-demand warehousing, inventory monitoring and management, order processing and fulfilment, haulage, last-mile delivery, returns management, and receipt and reconciliation of cash-on-delivery collections in real time. The platform includes live tracking, data analytics and reporting, API and e-commerce integrations, multiple payment options and an AI-powered chatbot. A second product, SCALE, is a digital platform providing embedded credit and value-added services to fleet owners, mobility operators and logistics SMEs.

The company operates an asset-light model: it does not own warehouses or vehicles, instead aggregating underutilised storage space, trucks, vans and bikes from third-party providers and matching them to business customers. Third-party teams handle onboarding, verification, quality assurance and monitoring of storage and delivery partners, and partners and drivers manage their operations through dedicated apps and dashboards, alongside consumer and internal admin apps. Renda serves fast-moving consumer goods, agriculture and agritech, retail and e-commerce customers, and states reach across 26+ cities.

Planned extensions disclosed in 2024 include an embedded finance product allowing drivers to draw weekly loans repaid from payouts, plus health insurance and fuel assistance for drivers, and the use of AI to automate internal processes.

Founding story

Renda was founded in January 2021 by siblings Ope Onaboye, a third-time founder who previously ran a verification and background-check business, and Bimbo Onaboye, an experienced automobile product manager. It initially served small businesses before shifting focus to enterprise clients.

Business model

Renda aggregates third-party warehousing, delivery and cash-collection capacity and resells it to businesses as an integrated fulfilment service, avoiding ownership of physical assets. It prioritises enterprise clients, which typically commit to 12- to 24-month contracts, over small businesses, and layers embedded financial and value-added services on top of its partner network.

Revenue comes from five drivers: storage, charged by square metre or per year; fulfilment, charged per item processed; vehicle booking, charged as a daily fee; delivery, charged per item delivered; and cash collection, charged as a percentage of cash collected.

Traction

Renda reports serving over 500 businesses across 15 states in Nigeria, processing more than 250,000 orders and helping clients reach over 100,000 customers, with year-on-year revenue growth of up to 450% and profitability as of the 2024 pre-seed announcement. Its CEO has publicly stated the company surpassed $1 million in revenue before raising external capital.

Latest developments

Following the 2024 pre-seed round, Renda said it would improve its offerings, expand into more cities in Nigeria and East Africa, grow its partner network, and roll out embedded finance and value-added services for partners, including weekly driver loans repaid from payouts, health insurance and fuel assistance. Its 2025 website presents SCALE, a digital platform offering embedded credit and value-added services to fleet owners, mobility operators and logistics SMEs.