London, 1 June 2023
RedCloud, has today announced a major milestone. In just 12 months, it has passed a trading volume of $500m in a single territory – Nigeria. Known for its mission to enable commerce everywhere, RedCloud seeks to support emerging markets by digitally connecting FMCG brands, distributors, and merchants, providing them with the technology they need to drive economic growth. These latest figures from Nigeria show that the brand’s strategy is proving to be an unmitigated success.
Providing an open and transparent trading platform with its proprietary technology, RedCloud is making local and international business-to-business trade possible for businesses in emerging markets. Simplifying complex systems to enable easy navigation and confident transactions. While eliminating the artificial barriers to the trade of consumer goods across emerging markets.
Ebere Ogwumoyi, General Manager of RedCloud Nigeria, comments:
“This milestone is a testament to the resilience, determination, and hard work of our team in Nigeria. Our Open Commerce technology is not just a tool but a revolution in how business is done, particularly in a complex and fast-paced market like Nigeria. The positive impact that our platform is having on retailers, brands, and distributors across the industry is phenomenal.”
The surge in trading volumes through RedCloud in Nigeria underscores the potential of Open Commerce and the role it can play in transforming commerce in emerging markets, driving economic growth, and shaping the future of trade.
Justin Floyd, CEO of RedCloud Technology, adds:
“Our vision for Open Commerce is to enable trade anywhere through the next evolution of commerce. AI is driving a new kind of B2B commerce experience, through smart search, selection and trade , bringing badly needed economics to brands, distributors and retailers everywhere. Big Tech has failed many of these businesses and we are here to put that right.
“Achieving half a billion dollars in trading volume in just over a year in a single market is confirmation of that, putting an end to unnecessarily high commission charges and transaction fees, while providing the digital access that all businesses deserve.
About RedCloud
RedCloud is a global technology company committed to bringing commerce everywhere, especially in emerging markets, by digitally connecting FMCG brands, distributors, and merchants, enabling them to search smarter, sell better, and trade simpler.
With its proprietary Open Commerce platform, RedCloud is poised to drive economic growth in the FMCG industry by providing new levels of visibility and facilitating strategic decision-making based on real-time data analysis syndicated across the distribution chain.
