COVID-19: GET IT Founder Nkuranga on how to raise capital during a pandemic

The COVID-19 pandemic has significantly impacted industries worldwide, changing the dynamics of businesses and investment landscapes. Amidst these challenges, e-commerce has emerged as a thriving sector, attracting increased investments and opportunities. Lauren Nkuranga, the Founder and Chairman of GET IT, a dynamic African company rooted in Rwanda, sheds light on navigating the complexities of raising capital during a pandemic and the unique strategies employed to drive growth across the African market. With a focus on the long-term vision and values alignment, GET IT has successfully cultivated relationships with investors who recognize the untapped potential in Africa. Nkuranga emphasizes the importance of building strong foundations through continuous dialogue and partnership building, ensuring a robust support system for sustainable growth. By positioning themselves as an African company with deep roots in Rwanda, GET IT leverages the strengths of the region to establish a scalable model that extends across East, West, and Central Africa. The pandemic posed challenges for GET IT, primarily due to disruptions in the supply chain caused by widespread closures in the hospitality sector, a significant customer base for the company. Employing resilience and adaptability, GET IT pivoted its strategy to offer household delivery services, capitalizing on the growing demand for quality products in the home sector. Furthermore, diversification into exports, particularly with commodities like ginger, chilies, and garlic, showcased the company's foresight and ability to navigate market volatility. Having previously raised $1.5 million in seed capital for expansion in 2017, GET IT's recent efforts to secure additional funding aim to expedite growth in response to the burgeoning opportunities in Sub-Saharan Africa. Nkuranga envisions establishing GET IT as the premier food logistics company in the region, filling a vital gap in the market and driving innovation in the sector. Despite the challenges faced by logistics companies in Africa, Nkuranga remains optimistic about the brand's sustainability, built on a solid foundation tailored to the unique market demands. Key investors in GET IT include Kenyan stakeholders, highlighting the importance of aligning values and expertise with capital infusion for sustainable growth. Nkuranga stresses the significance of finding partners who not only provide funding but also possess a deep understanding of African business landscapes, facilitating seamless expansion and operational efficiency. By focusing on organic growth, grassroots efforts, and a market-specific approach, GET IT stands apart from traditional models that struggle to adapt to the intricacies of regional markets. While logistic companies like Jumia and Andela faced challenges and setbacks in the African market, Nkuranga underscores the critical difference in GET IT's approach, emphasizing a comprehensive understanding of market nuances and a localized operational strategy. By owning and controlling their ecosystem, GET IT minimizes dependencies on external infrastructures, ensuring a robust and adaptable business model tailored to the African context. In conclusion, Lauren Nkuranga's insights provide a compelling narrative on the resilience, innovation, and strategic vision driving GET IT's success in raising capital during a pandemic. As e-commerce continues to thrive in the wake of global uncertainties, African companies like GET IT exemplify the spirit of determination and adaptability, carving a path for sustained growth and market leadership in the dynamic landscape of the African business ecosystem.