Interview with Jim Abba, Founder of Vendcliq. A startup Transforming Beverage Vending with Technology
In a bold move to transform Nigeria’s beverage vending landscape, Jim Abba, Founder of Vendcliq, combines cutting-edge technology with market expertise to empower vendors, optimize inventory, and drive business growth.
In an exclusive interview with DAILYMAIL NG, Jim Abba sheds light on his journey, the motivation behind Vendcliq, and how his tech-driven platform is addressing long-standing challenges in the FMCG sector.
Q: Can you share the story behind Vendcliq? What inspired you to start this company?
Jim Abba: My name is Jim Abba, the Founder of Vendcliq and the the idea for Vendcliq came to me while I was working in banking and dealing with customers in the FMCG sector. I noticed that the drinks and beverage business was not just profitable but also steady because of the constant high demand. That got me thinking, and I decided to try it out myself. With ₦2 million in capital, I started my own drinks shop.
At first, it seemed like a straightforward business, but I quickly ran into challenges. One major issue was figuring out what products to stock and in what packaging. For instance, if I wanted to stock Coca-Cola, should I focus on cans, PET bottles, or glass bottles? With limited capital, I couldn’t afford to guess, I needed reliable data to ensure I stocked what people actually wanted.
I also noticed a common struggle among other vendors, both new and experienced: they often needed credit because they missed opportunities to stock high-demand products. The problem wasn’t always about capital, it was about knowing what to stock and when. That realization became the foundation for Vendcliq: giving vendors the tools and insights they need to make smarter inventory decisions and grow their businesses.
Q: How would you describe Vendcliq’s mission and the problem it aims to solve in the beverage vending industry?
Jim Abba: Vendcliq’s vision is to take the guesswork out of stocking decisions, helping beverage vendors make smarter choices backed by accurate data. Our mission is to equip vendors with easy-to-use tech tools that simplify their day to day operations and give them full control of their businesses, from anywhere in the world.
Q: What motivated you to combine technology with the traditional beverage vending market?
Jim Abba: Stocking is a mundane task that relies heavily on past data. With Vendcliq’s advanced technology, powered by AI and machine learning, vendors can save valuable time spent guessing what to stock, a process that is often prone to costly mistakes. But this time they can instead be focused on growing their businesses and making more profits.
Our automated system also reduces the errors that come with manual stock management. By simplifying record-keeping and improving accuracy, Vendcliq ensures vendors have better control over their operations, leading to business growth.
Q: Vendcliq is described as a tech-driven platform. Can you elaborate on the technology that powers your operations?
Jim Abba: At Vendcliq, technology is the heart of everything we do. With predictive AI algorithms, we help vendors make smarter stocking decisions by using demand forecasts and past data. Our smart inventory tools automatically update stock records with every sale or purchase, removing the struggle of manual errors and keeping things accurate in real time.
Instead of having to draw out a manual invoice or a record book our integrated system helps you run that in minutes, using accurate data from the day you stock up. Which makes sales easier by combining invoice creation with e-commerce features. This way our vendors serve their customers better and more efficiently.
Q: How has Vendcliq helped its users/customers so far?
Jim Abba: Our journey started by offering soft loans to help our vendors take advantage of market opportunities, like stocking up before price hikes or meeting supplier sales targets. This support allowed them to stay ahead of demand and increase their profits. Over the last 12 months, we’ve financed over $10 million in inventory, enabling some vendors to purchase up to three truckloads of products at once.
Beyond financing, our inventory management tools have made running a business easier than ever. Vendors no longer need to track goods manually, as our system provides real-time updates, allowing them to manage their businesses and staff from anywhere in the world with confidence.
Our marketplace has also changed how our customers operate. Vendors can sell their products faster and connect with new buyers, while buyers get to enjoy bids from multiple suppliers, ensuring better deals. This has been a mini haven for vendors as transactions are swifter, better and certainly more profitable.
Q: What challenges have you faced in introducing tech solutions to a traditionally manual industry seeing as the beverage industry is still very old school?
Jim Abba: One of the challenges we face in getting more customers to adopt our technology is the type of devices they use. Many still use feature phones, that’s like the Nokia torch light, which limits their access to our platform. To solve this, we’re integrating our technology into Android POS terminals and tablets, which we plan to offer on a buy-now-pay-later basis, making it both affordable and accessible to everyone.
We’ve also designed an intuitive user interface that works for everyone, regardless of literacy level, by mimicking real-life experiences to make the system easy to understand. Plus, our dedicated support team is always on hand to guide customers step-by-step until they feel completely confident using our platform. So you see, we really do put the interest of our vendors first. Their convenience is our priority.
Q: Can you provide examples of how your platform has helped vendors grow their businesses?
Jim Abba: While credit has already proven its impact in boosting profitability by enabling vendors to seize market opportunities, our Vendorhub marketplace takes convenience and efficiency to the next level.
With Vendorhub, vendors like Madam Chichi no longer have to spend hours calling different suppliers to negotiate prices. Instead, she can simply list the items she wants, and multiple suppliers will send her competitive offers, some even offering doorstep delivery. This not only saves her time and effort but also helps her connect with new suppliers to grow her network.
If Madam Chichi has a preapproved credit limit with Vendcliq, she can easily use it to pay for the offers she chooses. This makes her transactions faster and ensures she never misses out on the best deals.
Q: How was it getting your customers to adapt and accept your idea?
Jim Abba: At Vendcliq, we’ve adopted a patient and phased approach to introducing our ideas and solutions. Each new feature we roll out is treated as a vital piece of a larger puzzle that gradually reveals the big picture: eliminating guesswork from inventory stocking.
By breaking down our vision into manageable and impactful steps, we help our customers understand how each feature or product contributes to the overarching goal. This deliberate approach not only ensures smoother adoption but also builds trust, as our customers see tangible value at every stage of their journey with us.
Q: Where do you see Vendcliq in the next five years? Are there plans for expansion beyond Nigeria?
Jim Abba: Vendcliq is pioneering a transformative approach to business decision-making. In the next five years, we envision scaling our reach to other African and European markets, replicating our technology across additional product lines within the FMCG space.
Vendorhub is set to become a global marketplace where vendors from around the world can easily purchase indigenous products, paving the way for seamless cross-border trade. To further support growth, we’ll integrate financing as a checkout option, enabling vendors to access the resources they need effortlessly and expand their businesses with ease.
Q: How do you see the role of tech in shaping the future of micro and small-scale businesses in Nigeria?
Jim Abba: In my view, data is the missing link for MSMEs in Nigeria. The lack of accessible, organized data has hindered their ability to secure financial services and attract direct investments. I believe the most critical role technology will play is in aggregating business data and, with the consent of business owners, leveraging it to create tailored services that transform decision-making and improve access to better opportunities.
Platforms like Vendcliq create a sense of community among businesses, encouraging collaboration rather than isolation. By pooling and analyzing shared data, we help vendors make better-informed decisions, avoid common mistakes, and grow faster. This collective approach ensures MSMEs benefit from shared insights, enabling smarter and more sustainable growth.
Q: What message do you have for potential investors looking at Vendcliq?
Jim Abba: Vendcliq is committed to empowering vendors by eliminating guesswork in stocking decisions and equipping them with the tools they need to succeed. Our progress so far highlights the impact of our solutions and the immense potential they hold in transforming the FMCG landscape.
We’re seeking visionary investors to join us in scaling our impact globally, redefining how vendors operate, and creating lasting solutions for sustainable growth. Together, we can drive change and empower businesses worldwide.
Q: For beverage vendors yet to embrace your platform, how would you encourage them to join Vendcliq?
Jim Abba: At Vendcliq, our community, services, and technology are designed to provide the support you need to grow your business while offering the convenience to take a step back and relax. We believe that the most challenging part of managing a vending business should be securing the capital to start. Now that you’ve achieved that, CONGRATULATIONS! We’re here to make the rest of your journey smoother and more convenient.
For newcomers entering the market, we are here to equip you with the resources and data needed to start your business with confidence. For established businesses, we enable seamless expansion into new locations by offering data-driven insights, advanced stock monitoring technology, and accessible financing options. Whatever stage you’re at, Vendcliq is here to help you succeed.
Q: Finally, what legacy do you hope Vendcliq will leave in the Nigerian business and tech ecosystem?
Jim Abba: Our goal at Vendcliq is to empower both small and established businesses by helping them leverage the data from their daily operations. This enables them to make more informed decisions, leading to improved efficiency and profitability.
For new entrants, we aim to remove knowledge barriers, providing the necessary tools and insights to help them start confidently. For established businesses, we make expansion into new locations easier and more strategic, allowing them to scale with confidence and minimize risks.
In this enlightening interview with Jim Abba we now understand that Vendcliq is more than a platform; it’s a movement aimed at transforming how vendors operate in Nigeria’s beverage industry and beyond. By bridging the gap between traditional vending and modern technology, Jim Abba and his team are equipping vendors to thrive in an ever-evolving market. With plans for expansion and a commitment to innovation, Vendcliq is assured to leave a lasting mark on Nigeria’s FMCG landscape.
