In a place where female entrepreneurs often struggle to get a fair shot, Sabi is making waves. Co-founded by Anu Adasolum, this Nigerian B2B marketplace is not just changing the logistics game; it's also flipping the script on gender norms in tech. This post dives into how Sabi's smart business model and savvy strategies have catapulted it to the top of Africa's startup scene while showcasing the power of female leadership.
Founded in 2020 by Anu Adasolum and Ademola Adesina, Sabi is designed to help merchants—think wholesalers, distributors, and manufacturers—expand their operations through technology. Unlike other platforms that buy from manufacturers to sell, Sabi connects all players in the value chain on one platform. They offer tools for inventory management, sales tracking, digital invoicing, and data analytics.
Sabi essentially acts as an intermediary between businesses and their markets. With over 10,000 agents serving its merchant network, it makes money through transaction fees and loan service margins.
Female-led startups face an uphill battle in securing funding or even recognition. According to a report by Disrupt Africa, only 17.3% of African tech startups have at least one female co-founder—and those numbers are even lower for female CEOs. Yet Anu Adasolum’s leadership has been pivotal for Sabi’s ascent. Her impressive background at KPMG, Jumia, and Rensource Energy has equipped her with essential skills for navigating the complex landscape of African tech.
Anu's story illustrates what female leadership can achieve in the tech space. After earning her BSc in Economics and Politics from SOAS University of London in 2009, she completed a Master’s Degree at LSE the following year. Under her guidance, Sabi not only thrives but also sets an example for aspiring female entrepreneurs across the continent.
Sabi’s unique approach allows it to avoid owning inventory—a strategy that minimizes risk while maximizing growth potential through existing suppliers and buyers. This model opens up access to a wider range of products for business buyers and integrates various operational aspects into one seamless platform.
The rewards? Massive revenue streams from commissions on purchases, subscription fees for sellers, advertising revenue, lead generation programs, and data monetization are just some of them. The scalability of its B2B marketplace connects buyers and sellers efficiently while catering to diverse procurement needs.
Despite its success story so far, Sabi faces challenges typical for female-led ventures in Africa—especially when it comes to funding disparities and gender biases. The Ventures Africa Gender Funding Gap report highlights that startups with all-female founding teams snagged a mere 2.3% of total funding in 2023! Even mixed-gender teams do better at just 15%, largely due to investor biases.
Sabi counters these hurdles with a solid network of backers focused on sustainable growth strategies. After raising $6 million in initial venture funding late last year led by CRE Venture Capital—with additional support from Janngo Capital—the company followed up quickly with $20 million Series A round five months later! As of now they’ve secured $64 million total across three rounds—valuing them over $300 million!
The potential for growth among female-led ventures in Africa is staggering! Achieving gender parity could unlock vast economic benefits—as diverse teams often yield better solutions & greater success overall . Addressing systemic issues like unequal access & biases during fundraising processes will be crucial towards fostering an inclusive ecosystem where women entrepreneurs can flourish .
Initiatives like She WINS Africa Program aim precisely at this goal: supporting women entrepreneurs through training , mentorship & networking opportunities enabling them access necessary funds . Such programs are vital towards creating conducive environments enabling successful outcomes .
Several lessons emerge from SabI’s narrative : first off , having unique scalable business model leveraging existing networks proves invaluable ; secondly , strong leadership especially if its female leads helps navigate challenges faced within startup ecosystems ; lastly addressing funding disparities alongwith gender biases remains essential step towards building more inclusive innovative tech landscapes across continent .
As more women step into leadership roles like Anu Adasolum , African tech ecosystem stands poised benefit immensely from diverse perspectives brought forth by such trailblazers .
