\MarketForce is a leading B2B retail distribution network in Africa, with a strong presence in Kenya, Uganda, Tanzania, Rwanda, and Nigeria. Founded in 2018, it has garnered significant attention in the Financial Services, Fintech, and Information Technology industries. The company's platform acts as a bridge in retail distribution, facilitating the delivery of essential goods and digital financial services to retailers and consumers in Africa. MarketForce's B2B retail marketplace empowers informal merchants by allowing them to source, order, and pay for inventory digitally while providing access to financing and enabling digital payments. Additionally, merchants can resell digital financial services, such as airtime, electricity tokens, and bill payments, to earn extra income. The company recently secured a substantial $42.50M Series A investment on 19th April 2024 from a notable list of investors including GreenHouse Capital, VU Venture Partners, Y Combinator, Uncovered Fund, century oak capital, Vastly Valuable Ventures, Reflect Ventures, Remapped Ventures, V8 Capital Partners, Ten13 VC, and SOSV Select Fund. MarketForce's innovative approach and rapid growth make it a promising investment opportunity in the African market.
Funding Stage | Amount | No. Investors | Investors | Date |
---|---|---|---|---|
Series A | $40.00M | - | 01 Feb 2023 | |
Series A | Unknown | - | 06 Oct 2022 | |
Grant | $250.00K | 1 | 04 Oct 2022 | |
Series A | $40.00M | 10 | Ken Njoroge | 22 Feb 2022 |
Debt Financing | $20.00M | - | 22 Feb 2022 |
MarketForce winds down its B2B e-commerce arm