Printivo secures six-figure seed funding from EchoVC

by | Oct 15, 2015

Nigeria-based digital printing startup, Printivo, has closed on seed financing from early-stage technology venture capital firm, EchoVC Partners. According to a Press Release sent to Techpoint, the six-figure investment will be used to significantly broaden the company’s product range, increase headcount, accelerate customer acquisition and scale the business.

Targetted primarily at Nigeria’s booming SME sector, Printivo is poised to capitalise on and grow Nigeria’s $200M print market, which has until now, had no credible online presence.

Printivo provides the only fully automated online print service for over 3,000 customers, providing local and international businesses with corporate stock collateral, such as business cards, letterheads and notepads, and has seen y-o-y growth of 200% since its launch in 2014.

Oluyomi Ojo, Printivo Co-Founder and CEO says, “Securing institutional seed financing means we can accelerate the growth of our online print services & community platform and achieve the ambitious targets we have set for ourselves, as we transform an industry that has, until now, lacked digital infrastructure, investment and innovation. We can now transition print from bricks & mortar ‘mom-and-pop’ stores that struggle to scale and meet quality requirements, to online ordering and direct delivery, while enabling job creation and distribution. We are in the process of removing the friction for companies that want access to great design, transparent pricing, high quality products and fast turnaround on orders. Simple, yes, but something local printers have historically been unable to provide.”

“In EchoVC, we have found an investor and partner who has a complete understanding in growing and scaling eCommerce businesses and who sees the enormous growth opportunity Africa’s print industry presents.”

Wale Ayeni, Investment Director at EchoVC Pan-Africa Fund adds: “The lightning speed at which Printivo has changed Nigerian SMEs’ print purchasing habits and built a customer base that runs into the thousands is impressive, and was a key driver in our decision to invest. EchoVC sees print in Africa as one of the continent’s ‘iceberg micro-economies’, a below-radar but very large and viable industry with enormous scope for growth. The team’s homegrown expertise and innate understanding of the market, their commitment to great design and innovation in print, their ability to grow long lasting customer relationships and their focus on customer service equates to them being best placed to lead the digital printing revolution on the continent. The founders’ focus on building a community of co-dependent participants in the print economy has also kick-started significant job creation possibilities.”

Múyìwá Mátùlúkò
Múyìwá Mátùlúkò

Chief Servant. I bully myself because I make me do what I put my mind to.

On January 22, 2022, be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free.

0 Comments

Recent News

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap