Philippines – Elloe, a US-based social e-commerce firm focused on Kenya and emerging markets, has announced that it has raised $7m in pre-seed capital, led by Mad Ventures, Inc. of the Philippines. The funds will be used to expand its Kenyan operations and enter the Philippine and Southeast Asian markets by 2023 and beyond.
Elloe is an AI-powered, social commerce platform that allows businesses to buy and sell things online across any messaging network. It was co-founded by Owen Sakawa, Abhijay Rao, and Aaron Madolora.
Elloe’s consolidated merchant gateway simplifies operations, logistics, payments, and marketing for businesses, resulting in increased sales and profitability. It is especially beneficial for micro-SMEs that seek to offer their products and services online without paying excessive commissions to third parties.
Owen Sakawa, founder and CEO at Elloe, shared, “We are very excited and humbled by the opportunity to partner with Mad Ventures, Inc and join its growing livelihood ecosystem as digital ambassadors to local Kenyan entrepreneurs and netizens.”