Sefa Ikyaator is one of the co-founders of Suplias, a Nigerian B2B startup aimed at transforming how small mom-and-pop stores restock their inventory. Alongside Michael Adesanya and Stephen Igwue, Ikyaator launched the platform in May 2020 to address challenges faced by these small retailers, such as long travel times, high costs, and lack of access to financing.
Recently underscoring the vast potential of empowering African women entrepreneurs, Sefa shares a key finding:
Women, especially across Africa, are less likely to access capital although they are more likely to pay back debt statistically. We have seen a 2X higher likelihood for female entrepreneurs to pay back business loans.
Going by this, while supporting women businesses due to their role as the backbone of many African families is great, it is also an awesome strategy for building credit businesses.At Obtainly, we have grown our business with female distributors and retailers by 3x within the last 12 months. And we are just getting started!
Suplias operates as a mobile app marketplace where store owners can order inventory from manufacturers and receive next-day delivery. The platform also provides additional services like inventory financing and cash handling, helping small businesses overcome common obstacles in their operations. Suplias targets mom-and-pop stores, focusing particularly on packaged food products, leveraging Africa’s growing internet penetration and smartphone usage​
The company has gained traction rapidly, achieving significant growth and securing external funding. Suplias was accepted into Y Combinator’s Summer 2021 program, which accelerated its development and allowed it to build partnerships with major investors.