Konga and Full List of Services offered by Konga – Konga was created in Nigeria in July 2012, with headquarters in Gbagada, Lagos State. It functions as both a third-party marketplace and a first-party retailer for a wide range of products, including consumer electronics, fashion appliances, books, laptops, phones and tablets, personal care, and children’s items. To put it another way, one of the company’s offerings is logistics (delivery and logistics support).
Simagaya founded the firm in July 2012 with 20 people. Konga was founded at the end of 2012 with $3.5 million in preliminary funding from a group of investors. The website began as a Lagos-focused store in December 2012, but it has expanded to include all of Nigeria’s sectors. This expansion might be attributed to competition from Rocket Internet’s Jua Kali, which debuted around the same time.
Konga received $10 million in a funding round headed by Invest AB Kinving and Kaspers in early 2013. The Konga platform was extended to third-party merchants in Q2 2013, and the company moved away from its exclusive first-party retail approach. Konga’s creator secured $25 million from investors Invest A/B Kinove and Naspers in a single round in late 2013, one of the most significant investments for African businesses. On Black Friday, Konga.com was forced to go down due to massive traffic, although it stayed operational for 45 minutes. During the marketing time, Konga sold much more than the previous month. In the early half of 2014, Konga shifted its focus to third-party retail, calling it’ Marketplace,’ surpassing internal expectations by eightfold. Konga made more money on Black Friday orders in 2014 than in 2013, with $3.5 million in revenue. In 2014, Konga’s income increased by almost 450 percent, according to reports. In 2014, Konga received $40 million in series C investment from Invest AB Kinvik and Kinneys, making it the most significant single series C investment ever. Despite reports that Naspers purchased a 50% interest in Konga in 2013, Naspers’ interest in the company was 22% in October 2014. At the time of the Series C round of funding, Konga was valued $200 million.
In January 2015, according to Alexa, Konga was the most popular website in Nigeria. Konga “is the market leader in Nigeria now [early 2015] in Products Value,” a statistic that measures the total value of all merchandise sold on a marketplace. In June of that year, Konga announced the purchase of assets and mobile money licenses from Internet Nigeria Limited. The investment will finance KongaPay, an electronic payment service that was introduced in August of 2015. For individuals who utilize the Konga delivery option, online payment is now straightforward, thanks to 80 million Nigerian consumers.
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Services offered by Konga
KongaPay
KongaPay started as a test project for clients on the Konga.com platform in 2015. Having access to Konga’s platform alleviated the problem of trust in online payments. Thanks to this new security improvement, fraud was no longer an issue. The KongaPay platform’s one-click payment function is comparable to that of the Amazon platform. The forum was introduced during a KongaPay launch ceremony in Lagos, Nigeria. Ecobank, FCMB, Diamond Bank, Heritage Bank, Zenith Bank, UMB, and Heritage Bank are all completely connected with the payment option.
According to Sim Shagaya, it is a cooperation with Nigerian banks. We think that by removing the anxieties that consumers now have before receiving the products and services they have paid for, we can change buying in Nigeria.
KongaPay has become a game-changer as online purchasing gets more popular in Nigeria. It has enabled the movement of goods, services, and money. Konga’s users now have confidence in the system’s reliability.
Customers who use KongaPay get an authorization code that is linked to their phone numbers. If a consumer has a registered phone number and a bank account, they do not need to sign up for mobile banking. KongaPay has even gone so far as to encrypt Internet banking credentials with a single mouse click.
Konga Express
To make their online integration work, Konga streamlined their approach by giving everything necessary to the sale to clients in one convenient bundle. After one to three days, the items are available for buyers to pick up. The Konga Express provides real-time tracking and accurate delivery to its customers.
Konga Marketplace
The rapid expansion of Konga in Nigeria began with the establishment of the Konga Mall. Completely free and simple delivery was made available to the business owners. The business, along with SellerHQ information and information about the delivery destination before being dropped off at the drop-off center, is given by the business.
Konga Marketplace had seen the great success of Konga Mall, making it possible for even smaller traders to thrive. Many unique products are found in this market, and huge sales are made daily. This Marketplace has seen a revolutionary change. Unprecedented opportunities have opened up through this Marketplace, and employment and economic activity have increased across the country. Competitive pricing online and comparison stores such as best prices are now possible on this market with this Marketplace.
Sim Shagaya explains; we found that for our service to be beneficial to the needs of society, we have to be profitable for anyone” This Marketplace is completely revolutionizing Nigeria as far as we know it.
Konga Self-Fulfill Model
In terms of Konga’s market offer to consumers’ wants, the Self-Fulf Model was crucial. This service enabled merchants to obtain the lowest shipping prices by establishing solid shipping arrangements with reliable partners. All packages will be looked after by the sales staff until the clients get them. Payments are paid as soon as the purchasers receive the orders. With the Self-Filled concept, customers seek greater flexibility and quicker delivery. Customers may assess merchants, items, and the whole experience using the Self-fulfillment paradigm.
About Konga and Full List of Services offered by Konga, hope you get to know more of the services rendered by Konga.