Kenya’s e-commerce platform, Sokowatch, has raised $14 million in its series A funding. Investors who took part in the funding are Quona Capital, Amplo, Breyer Capital, Vertex Ventures, Timon Capital and 4DX Ventures.
According to the firm, they will use the funding to digitize Africa’s business-to-business (B2B) supply chain. This will include broadening their client services, transitioning from working-capital to data-analytics.
Sokowatch enables informal retailers to order products at any time via SMS or the mobile app with same day delivery to their store. Leveraging historic purchasing data of retailers, the company is able to provide them with access to credit and other financial services.
Furthermore, it maintains a fleet of vehicles, primarily three-wheel tuk tuks, for delivery. It is operational in Kenya, Uganda, Tanzania and Rwanda. It serves over 15,000 small retailers across the regions.
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