This week,
@SwoopAppNG, a food delivery app with super-app ambitions, announced a $7.3M seed round.
It's expanding from Eswatini — where it claims to have become the country's largest e-commerce platform with 22k users (~2% of the country's population) — to Nigeria, Africa's most populous country with an estimated population of ~220M.
The company's led by a 19-year-old Berkeley dropout and Thiel Fellow from Greenwich, Connecticut.
And notably, all investors in the round are Silicon Valley-based — except South Africa's Base Capital.
Swoop's strategy: low restaurant commissions (for now), flat 7% "handling fee," and letting riders keep 100% of delivery fees — forcing
@Chowdeck and other incumbents to compete or lose their supply side.
It's drawing premature comparisons to
@WaveSenegal's disruption of mobile money in Francophone Africa and
@OPay_NG's early blitzscaling across verticals before the pivot to payments.
But perhaps the precedent to keep top of mind is Jumia Food — which exited food delivery in Nigeria & other markets, citing competitive dynamics that were "irrational" and expected to stay that way.
"There will always be someone new coming into play." —
@Jumia_Group CEO Francis Dufay (December 2023)