Kenya’s MarketForce raises further $100k funding from Harambeans Prosperity Fund

Kenya’s MarketForce raises further $100k funding from Harambeans Prosperity Fund

Kenyan e-Commerce startup MarketForce has announced it raised an additional $100k in funding from the Harambeans Prosperity Fund to the $2m pre-Series A round it announced last month.

MarketForce is an end-to-end retail distribution platform founded in 2018 by the duo of Tesh Mbaabu and Mesongo Sibuti, Chief Executive Officer (CEO) and Chief Technology Officer (CTO), respectively with the aim of eliminating fragmented distribution networks and stores they observed in small retail establishments.

Note that MarketForce had earlier acquired Digiduka- another Kenyan eCommerce startup- to accelerate its services across Africa in June 2021, and also announced a partnership with Pezesha in June to offer more affordable and effective wholesale distribution.

Tesh Mbaabu co-founder and CEO of MarketForce speaking on the funding said that he was delighted to be a part of the entrepreneurial ecosystem driving transformation on the African continent.

“We are delighted by this recent investment from the Harambeans Prosperity Fund. It was an honour for me to be inducted into the Alliance’s 2020 cohort, and to become part of this dynamic entrepreneurial ecosystem that is driving transformation on the African continent. We are passionate about delivering digital solutions like RejaReja to solve challenges and empower African businesses to prosper, create livelihoods and more effectively provide goods and services that enhance the lives of their consumers,” he said.

The funding will be used to build coalitions of investors and entrepreneurs bringing scalable and affordable market creating innovations to Africa.

Author

  • Storyteller and Data analyst. Passionate about startups and innovators leveraging tech to promote financial and social inclusion in Africa and for Africans

Joel Nwankwo

Storyteller and Data analyst. Passionate about startups and innovators leveraging tech to promote financial and social inclusion in Africa and for Africans

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