Endeavor selects Vendease founders for 2023 entrepreneurs global network

Only Nigerian tech execs to make list this year

By Alexander Chiejina.

Tunde Kara,Wale oyepeju,Olumide Fayankin and Gatumi Aliyu, the founders of Vendease in Nigeria have been selected to be among 25 new high-impact entrepreneurs to join Endeavor Global network for 2023. The selection took place in Bali, Indonesia at the 96th in-person International Selection Panel (ISP) for Endeavour.

Vendease is a food technology company which offers an online marketplace for African restaurants to purchase food supplies, have access to financial services, and run their operations. The Vendease app allows restaurants to order high quality goods at competitive prices (up to 15% less than similar offerings) and have them delivered in a timely manner.

In addition, the company provides embedded financing via BNPL to shorten clients’ cash flow cycles and expand basket sizes. Vendease has provided restaurants with over 950,000 metric tonnes of food since it started in 2020, saving its users over $9 million in food costs and 35K procurement manhours.

Tunde Kara, co-founder and CEO of Vendease, commented on their inclusion in the worldwide network, saying, “Running Vendease has never been ‘business as usual’ for us. It has always been about the influence and transformative power of what we do and how it can alter entire economies and ecosystems. We are confident that the Endeavour neighbourhood is where we have discovered the ideal house. A group of world leaders who recognise the importance of entrepreneurs in generating long-term prosperity, expanding economies, and advancing humanity towards a shared prosperous future. The co-founder and chief operating officer of Vendease, Olumide Fayankin, adds: “One of Endeavor’s values is paying it forward, and we would sum up our experience as follows: The man who created Amazon International, Diego Piacentini, spent an hour with us. Nothing else best exemplifies paying it forward than being in the same room with one of your major mentors; interestingly, at Vendease, we refer to ourselves as “the Amazon for the food industry.”

Candidates pitch their businesses to prominent worldwide business executives and investors from the Endeavour network during the ISP, which serves as the culmination of a multi-stage tough selection process. Those who receive a unanimous vote are then recognised as Endeavour Entrepreneurs. Entrepreneurs have access to a variety of services that help them develop their firms more quickly and have a greater impact once they have been accepted into the network by a team of international panellists.

The newly chosen entrepreneurs will have access to a wide range of strategic, global support services as a result of being a part of the Endeavour network, including introduction to local and international business mentors, investors, and volunteers from Fortune 500 consulting firms who will assist them in addressing critical needs. Endeavour Entrepreneurs have a long history of making a difference. Over 4.1 million employment opportunities have been created by Endeavour Entrepreneurs, who have also produced total revenues of over $42+ billion and assisted in developing sustainable growth models in their native nations.

Vendease is the 21st company selected into the global Endeavor network through the regional affiliated office in Nigeria. All four entrepreneurs represent the growing expectation for exceptional entrepreneurs with big ambitions and the ability to execute at scale.