Nigerian startup launches escrow payments platform for online shopping

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Nigerian startup IderaOS has launched ListBuy, an e-commerce software platform with escrow payment technology to protect online buyers and sellers from fraud.

Rolled out earlier this year, Listbuy guarantees that customers get exactly what they ordered by leveraging on the software’s product verification system and escrow service.

Designed for entrepreneurs, MSME owners and dropshippers, ListBuy enables businesses to manage their storefront from one control panel, customise it, display and organise products, and accept a wide range of payment options.

“We chose to work on this idea because it presents an opportunity to reduce poverty and create prosperity by accelerating the creation and expansion of small businesses,” said founder Quadry Olalekan.

“During our ideation phase in 2019, we found out that running an online business in Africa is not scalable using platforms that were built for different audiences. It is an expensive exercise and does not have the necessary support ecosystem. An e-commerce business owner needs an ecosystem that will be conducive for them to operate their business anywhere, and this is what IderaOS is providing.”

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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