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Sokowatch raises USD 14 mln to digitize Africa's informal B2B supply-chain

Tuesday 25 February 2020 11:00 CET | News

Kenya  based B2B ecommerce startup Sokowatch has raised USD 14 million in Series A funding to revamp supply-chain markets for Africa’s informal retailers.

 

From Nairobi, the company has created a platform that connects merchants directly to local and multinational suppliers — such as Unilever  and Proctor and Gamble — and digitizes orders, payments and delivery-logistics.

Since launching in 2016, and raising a USD 2 million seed round in 2018, Sokowatch  has expanded within Kenya and into Rwanda, Tanzania and Uganda. With its Series A, the startup plans to broaden its client services — from working-capital to data-analytics — and target new African markets, according to official sources inside the company.

Sokowatch also doesn’t rule out using its infrastructure to someday enter business-to-consumer online retail. For the moment, the startup’s primary business focus is to reduce costs and increase profit margins for small merchants.

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Keywords: Sokowatch, funding round, Series A funding, Unilever, Proctor and Gamble, B2B ecommerce startup, supply chain finance, access to capital, B2B payments, Kenya, Rwanda, Tanzania, Uganda, Africa
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Kenya
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Banking & Fintech