Nigerian startup Ajé has developed a blockchain-powered social commerce platform designed to bridge the trust gap in online transactions, offering a secure marketplace where buyers and sellers can connect seamlessly, backed by escrow payments, dispute resolution tools, and multi-currency wallets.
As a university student, Ifeoluwa Wole-Osho saw firsthand how difficult it was for people to navigate informal marketplaces.
“Students would frequently turn to community groups to buy or sell essential items like furniture, electronics, or textbooks. While these groups provided a solution, they also exposed the darker side of unregulated online transactions – scams, unreliable buyers, and unresolved disputes,” Wole-Osho told Disrupt Africa.
“This issue wasn’t just an inconvenience; it created real financial and emotional stress for my peers. I remember a friend who paid for a laptop only to discover it didn’t work, with no recourse to recover their money. These problems weren’t limited to students – small businesses and everyday people across Nigeria faced similar struggles when trading online. The trust gap in these transactions wasn’t just a nuisance; it was a barrier to economic opportunity.”
Recognising this, he started organising student groups with the goal of creating safer spaces for commerce.
“These groups thrived on trust, rules, and accountability, but as they grew, I realised the limitations of informal systems. There was a need for a scalable solution – one that combined trust-building with technology to address fraud, payment security, and dispute resolution at a larger scale,” said Wole-Osho.
His solution is Ajé, a blockchain-powered social commerce platform designed to bridge the trust gap in online transactions. Ajé offers a secure marketplace where buyers and sellers can connect seamlessly, backed by escrow payments, dispute resolution tools, and multi-currency wallets.
“Whether you’re a student buying furniture or a business owner engaging in cross-border trade, Ajé empowers users to transact with condence,” Wole-Osho said.
Since launching in 2022, Ajé has onboarded over 7,500 users and facilitated more than 4,000 secure transactions. The startup’s competition includes direct competitors like Jiji, indirect alternatives like WhatsApp marketplaces, and substitutes such as classified boards, but Wole-Osho said none offer Ajé’s combination of social commerce, blockchain-powered escrow services, and cross-border support, which he said gave it a “distinctive edge” in addressing these underserved markets.
Currently bootstrapped, the startup has been focused on building a robust platform while scaling efficiently. Now, it is planning to open a pre-seed funding round, allowing it to accelerate growth, expand operations, and strengthen its product offering.
Ajé is on a strong growth trajectory, having added over 2,000 new sign-ups in November alone, meaning it is seeing a 50 per cent month-on-month growth rate.
“Engagement has also improved significantly, with repeat transactions increasing by 32 per cent, reflecting the platform’s growing trust and user satisfaction,” Wole-Osho said.
“Product listings continue to grow, with over 17,000 total listings, 1,700 of which were added in the last month alone. These metrics demonstrate the platform’s expanding ecosystem and its ability to meet the needs of both buyers and sellers effectively.”
Targeted marketing campaigns, a student ambassador programme, and the ongoing development of its web app post-soft launch have played a key role in driving adoption.
“Feedback from user surveys has also been instrumental in identifying areas for improvement, such as onboarding tutorials, which we are actively addressing to enhance the user experience further,” Wole-Osho said.
Ajé’s primary focus has been on universities in key cities across Nigeria, including Lagos, Benin, and Port Harcourt.
“These markets represent digitally savvy student populations who frequently engage in online trade but face challenges like scams and payment insecurity. Additionally, we’ve extended our reach to diaspora students in Turkey, addressing their unique cross-border commerce needs,” said Wole-Osho.
“For the next phase, we plan to deepen our presence in these core markets, ensuring strong adoption and satisfaction before expanding further. By Q3 2025, we aim to target the diaspora communities in the UK and Canada, leveraging insights gained from our success in Turkey to serve these broader audiences effectively.”
This phased approach enables Ajé to scale strategically, ensuring its platform continues to meet the unique needs of each market while maintaining operational efficiency. The startup generates revenue primarily through transaction fees on escrow-protected trades, charging a fee of US$1 per transaction.
“Additionally, we offer premium advertising options for users who want to promote their listings for higher visibility on the platform,” said Wole-Osho.
“While we are not yet profitable, our focus remains on scaling user adoption and transaction volume. By expanding to additional markets and enhancing platform features, we aim to significantly grow revenue in the coming quarters, with profitability projected as we reach higher transaction thresholds.”
