Kenyan-based used car marketplace Peach Cars has raised US$11 million in a Series A funding round, as it accelerates efforts to digitize and formalize vehicle transactions across East Africa.
- •The round was led by Suzuki Global Ventures, with participation from the Japan Bank for International Cooperation (JBIC), Gogin Capital, and additional investment from University of Tokyo Edge Capital Partners (UTEC), which previously led the company’s US$5 million seed round in 2023.
- •Founded in 2020 by Kaoru Kaganoi and Zachary Petroni, Peach Cars is targeting one of Africa’s most fragmented sectors with a full-stack digital platform that integrates vehicle inspections, financing, logistics, and after-sales support.
- •The company’s proprietary 225-point inspection system allows for real-time pricing, condition tracking, and embedded credit scoring, replacing the informal, trust-deficient used car sales ecosystem that dominates the region.
“We’re not just improving how cars are sold, we’re challenging the assumption that African consumers should settle for less. This is about dignity, accountability, and transforming everyday commerce through trust,” Kaoru Kaganoi said.
Over 80% of used cars in East Africa are imported from Japan but most of them arrive with limited transparency and buyer protections. Peach Cars is addressing this gap by building what it describes as a lifecycle platform for vehicle ownership, covering everything from transaction management to parts procurement. The company is already generating revenue through commissions, inspections, title transfers, and integrated loan products.
With the new Series A capital, Peach Cars plans to scale regionally by establishing inspection hubs outside Nairobi, growing its engineering and product teams, and reinforcing its control of the vehicle journey through logistics and parts supply services.
The investment also marks a broader strategic pivot by Japanese capital towards African tech infrastructure, with JBIC making its first direct bet on a startup on the continent. For Suzuki, which has ambitions beyond its dominant Indian market position, the Peach investment provides exposure to an emerging African mobility ecosystem built around digital trust and operational transparency.
