Kenya’s B2B retail end-to-end distribution platform, MarketForce, has raised $100,000 in funding, adding to the $2 Million it raised in Pre-Series A funding last month.
This latest funding now raises the startup’s total secured capital to $2.6 million.
The funding was raised from Harambeans Prosperity Fund, a donor-advised investment vehicle formed through the Harambe Entrepreneur Alliance’s network of prominent families and corporations.
The fund is a rules-based co-investment vehicle that leverages investment networks to increase capital flow to Harambean-led ventures. It has been specifically designed to build coalitions of entrepreneurs and investors, bringing scalable and affordable market-creating innovations to Africa.
MarketForce’s play enables the optimized distribution of FMCG goods and financial services through small retail shops and their distribution networks. Their other product, RejaReja, is a B2B e-commerce marketplace for merchants. It helps informal retail merchants buy and sell FMCGs and digital financial services.
The startup has a presence in Kenya, Uganda, and Tanzania. Its clients include Pepsi, Safaricom, Fort Beverages, Lami and Platinum Credit, among others.
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