Nigerian startup Ajé has introduced a blockchain-driven social commerce platform designed to enhance trust in online transactions. The platform provides a secure marketplace where buyers and sellers can engage in transactions seamlessly, supported by escrow payments, dispute resolution tools, and multi-currency wallets.
The inspiration behind Ajé emerged from the challenges observed in informal marketplaces, where individuals often struggled with unreliable buyers, scams, and unresolved disputes. Recognizing the financial and emotional stress caused by fraudulent transactions, the startup’s founder sought to create a safer space for digital commerce. Initially, the initiative began as organized student groups emphasizing trust and accountability, but as the community expanded, it became evident that a scalable technological solution was required.
Leveraging Blockchain for Secure Transactions
Ajé offers a structured platform that integrates blockchain-powered escrow services to mitigate fraud and payment security issues. The platform enables students purchasing essential items or businesses engaging in cross-border trade to conduct transactions with confidence. Since its launch in 2022, Ajé has attracted over 7,500 users and successfully facilitated more than 4,000 secure transactions.
Despite competition from platforms such as Jiji, WhatsApp marketplaces, and classified boards, Ajé differentiates itself by offering a combination of social commerce, blockchain-based escrow services, and cross-border support. This approach positions it uniquely within an underserved market segment.
Growth, Expansion Plans, and Market Strategy
Ajé has maintained a strong growth trajectory, with over 2,000 new users signing up in November alone, reflecting a 50% month-on-month growth rate. User engagement has also increased significantly, with repeat transactions rising by 32%, indicating growing trust and satisfaction within the community. Additionally, product listings have expanded to over 17,000, with 1,700 added in the past month alone.
The company attributes its rapid adoption to targeted marketing campaigns, a student ambassador program, and the continued development of its web application. User feedback has played a critical role in refining the platform, leading to enhancements such as onboarding tutorials to improve the user experience.
Currently, Ajé is focusing on universities in key Nigerian cities, including Lagos, Benin, and Port Harcourt. The platform has also extended its services to Nigerian students in Turkey, addressing their specific cross-border commerce requirements. Looking ahead, the startup aims to solidify its presence in these markets before expanding further. By the third quarter of 2025, it plans to extend operations to diaspora communities in the UK and Canada, utilizing insights gained from its success in Turkey.
Revenue Model and Future Prospects
Ajé generates revenue primarily through transaction fees on escrow-protected trades, charging approximately US$1 per transaction. Additionally, it offers premium advertising options for users seeking higher visibility for their listings.
Although the platform has yet to achieve profitability, its focus remains on scaling user adoption and transaction volume. By entering additional markets and continuously enhancing platform features, the company aims to significantly increase revenue, with profitability projected as transaction volumes grow. To accelerate this expansion, Ajé is preparing to launch a pre-seed funding round, which will enable further growth, operational scaling, and product development.
By strategically scaling its operations, Ajé aims to continue addressing the challenges of online transactions while ensuring that its platform remains secure, efficient, and user-friendly. Through its blockchain-driven approach, the startup is setting new standards for trust and security in digital commerce.
