Pastel, a Nigerian bookkeeping and digital platform for merchants, raises $5.5M led by TLcom

There’s no end to digitizing the operations of small and medium businesses (SMBs) in the traditional retail sector across sub-Saharan Africa. In Nigeria alone, this industry, worth more than $200 billion, consists of over 40 million businesses of varying sizes, according to reports.
Traditional retail in the country comprises small kiosks and open-air markets selling various products from food and beverages and groceries to personal care products and stationery. B2B digital marketplace upstarts such as TradeDepot, Sabi, and Omnibiz have raised millions of dollars to help thousands of these bus

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