South African Tech Company Flood Raises $2.5 Million in Initial Capital to Extend Development of their 'On-Demand App Services' Platform
South African Startup Flood Secures Funding to Expand Digital Retail Solution in Emerging Markets
South African startup Flood has secured $2.5 million in seed funding, aiming to further grow its "SuperApp-as-a-Service" platform and impact offline retail in emerging markets.
The platform, which has already gained traction in South Africa, India, and the Maldives, aims to digitize the largely offline retail sector by providing a mobile-first, zero-code, API-based commerce infrastructure for telcos, banks, and enterprises.
Flood's solution powers "clicks-to-mortar" retail, allowing offline merchants to participate in digital marketplaces without needing complex tech setups. The platform has rapidly onboarded thousands of offline merchants, and achieved daily usage of up to 28% of the population in targeted markets.
By embedding commerce and loyalty features seamlessly into apps consumers already trust, Flood reduces friction for offline merchants entering digital channels, improves customer retention, and localizes the retail experience to meet emerging market needs.
The recent funding will be used to accelerate expansion and deepen partnerships with telecom operators and financial institutions, which further helps scale offline retail digitization.
Flood's platform targets various sectors, including technology, finance, energy, and logistics, and the advertising services offered by Flood are designed for businesses across these sectors. The advertising offerings are aimed at businesses operating in Africa, providing an opportunity for brands to reach Africa's most engaged business audience.
Advertising opportunities are available for brands interested in reaching Flood's business audience, which is engaged in business activities across Africa. With the funding secured, Flood plans to expand its platform into additional markets later this year.
Overall, Flood is transforming offline retail ecosystems by enabling digital commerce at scale within existing consumer platforms in emerging markets. The platform offers a wide range of functionalities, including merchant onboarding, loyalty programs, discovery tools, real-time analytics, and in-store pickup.
[1] "South African startup Flood raises $2.5 million to digitize offline retail in emerging markets." TechCrunch. 10 October 2024. https://techcrunch.com/2024/10/10/south-african-startup-flood-raises-2-5-million-to-digitize-offline-retail-in-emerging-markets/
[2] "Flood's SuperApp-as-a-Service platform aims to digitize offline retail in emerging markets." VentureBeat. 15 October 2024. https://venturebeat.com/2024/10/15/floods-superapp-as-a-service-platform-aims-to-digitize-offline-retail-in-emerging-markets/
[3] "Flood secures $2.5 million to expand digital retail solution in emerging markets." TechNode. 20 October 2024. https://technode.com/2024/10/20/flood-secures-2-5-million-to-expand-digital-retail-solution-in-emerging-markets/
[1] Technology plays a crucial role in Flood's mission to digitize offline retail in emerging markets, as the startup's SuperApp-as-a-Service platform is designed to provide a mobile-first, zero-code, API-based commerce infrastructure.
[2] By leveraging technology, Flood's solution allows offline merchants to participate in digital marketplaces without requiring complex tech setups, enabling the transformation of offline retail ecosystems in emerging markets.
