Modupe Gbadeyanka
By Modupe Gbadeyanka
A global technology company, RedCloud Technology, has announced reaching a milestone in a single territory, with its trading volume in Nigeria going above $500 million in 12 months.
The organisation supports trade in emerging markets, allowing consumer brands to make better business decisions and access market share through open commerce technology.
The firm seeks to support emerging markets by digitally connecting FMCG brands, distributors, and merchants, providing them with the necessary technology to drive economic growth.
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 secure transactions while eliminating the artificial barriers to the trade of consumer goods across emerging markets.
“This milestone is a testament to our team’s resilience, determination, and hard work 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 General Manager of RedCloud Nigeria, Ebere Ogwumoyi, stated.
The surge in trading volumes through RedCloud in Nigeria underscores the potential of Open Commerce and its role in transforming commerce in emerging markets, driving economic growth, and shaping the future of trade.
“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,” the chief executive of RedCloud Technology, Mr Justin Floyd, said.
