Vendease, a leading food tech procurement platform in Africa, today announced Mohamed Chaudry as its new Chief Financial Officer, highlighting Vendease’s dedication to fortifying its executive team during a period of rapid growth and active fundraising initiatives.
Founded in 2019, Vendease has quickly established itself as a pivotal player in the food procurement sector in Nigeria and Ghana. The company has revolutionized food business operations with innovative technology, offering real-time inventory tracking, predictive analytics for demand forecasting, seamless payments, and automated reconciliation. These advancements optimize operations, cut costs, reduce waste, and enhance productivity. Beyond procurement, Vendease also offers customized financial services, such as Buy Now Pay Later (BNPL) service that enables businesses to manage their cash flow more effectively by providing flexible payment options, streamlined payment management and credit facilities tailored to meet the diverse requirements of the food industry. These financial solutions play a crucial role in assisting businesses with cash flow management and investing in growth opportunities.
Vendease’s innovative technology has empowered over 4,000 African businesses to optimize their procurement processes efficiently and save them over $12 million in procurement costs. Additionally, the company deployed $72 million in credit to support the growth of food businesses.
Tunde Kara, CEO of Vendease, expressed optimism about the company’s future, stating, ‘We are thrilled about the next phase of Vendease’s journey. Our fundraising effort will enable us to scale our operations and introduce groundbreaking solutions that redefine how businesses procure food supplies.’
The appointment of Mohamed Chaudry adds over 20 years of experience to the Vendease executive team, specializing in driving growth by scaling the business, securing funding, and implementing strategic financial strategies. His focus at Vendease is on innovating and enhancing operational efficiency in food procurement across Africa. Previously, as Group CFO at Foodhub, he played an instrumental role in expanding operations across 8 countries, achieving significant revenue growth and scaling the team. At SeaJet, he successfully secured multi-million-dollar funding and spearheaded market expansion initiatives.
Mohamed Chaudry commented on his new role, saying, “I am excited to join Vendease at such a pivotal moment. The opportunity to contribute to the company’s expansion and innovation in the foodtech space is truly inspiring. I look forward to working closely with the team to drive sustainable growth and deliver exceptional value to our customers.”
Vendease remains dedicated to advancing its platform, leveraging digital technology to optimize procurement efficiency and foster long-term partnerships within the food business ecosystem. The company invites stakeholders, investors, and industry partners to join in its journey towards redefining food procurement through innovation and operational excellence.