By Mark Kawalya
After raising USD$300,000 in a pre-seed funding round for its food tech startup CHIL Food Center, Solerchil Technologies has announced it is extending its footprint into Dover, Delaware, USA.
The company stated that proceeds from the pre-seed funding will be geared towards developing the firm’s digital credit technology and further extending its area of operation across Europe, the Middle East and Africa, playing a role in the growth of the B2B space.
Dover, Delaware is the first market the company is setting foot into after its USD$300,000 pre-seed funding round, which ties into the firm’s initiative to scale it into different geographical locations. Solerchil Technologies’ CHIL Food Center will have its offices in Dover, giving the firm its first international physical address.
“Delaware is the ideal choice for a startup like Solerchil Technologies,” said Shamim Nabuuma Kaliisa, co-founder of Solerchil Technologies. “The state has favorable regulations which offer tech startups a unique advantage for developing innovative financial solutions. It’s a sweet spot for our Buy Now, Pay Later solution.”
She also mentioned the existence of several opportunities as well as potential investments that position Delaware as the optimum for their business model.
The Dover offices will serve as a hub for the firm’s business support, marketing and implementation functions, with plans underway to hire staff.
Solerchil Technologies’ core function is the rental of solar-powered cold rooms to farmers and food vendors to preserve unsold food and produce for longer durations.
CHIL Food Center, the company’s food tech startup, is a B2B AI-powered eCommerce platform that streamlines the food supply chain between producers and retailers in Africa, Europe, and the Middle East.
The firm enables food retailers to buy produce for their own retail purposes and pay later through a B2C-like model that operates on a “Buy Now Pay Later” checkout procedure while ensuring that the supplier is paid upfront.
“Our Buy Now, Pay Later solution eliminates all the burden and risk associated with offering payment terms online by letting B2B merchants instantly offer credit terms at checkout even if the customer is buying from them for the first time,” said Nabuuma.
As of now, CHIL Food Center has more than 300 merchants that use the Buy Now Pay Later facility, with thousands of buyers making transactions on the platform.