Twiga Foods is a game-changing startup that is revolutionizing the African retail industry. Since its establishment in 2013, the company has been committed to becoming Africa’s largest grocer. Twiga leverages a mobile-based, cashless, business-to-business (B2B) supply platform to penetrate the distribution networks of millions of small and medium-sized vendors in African urban markets. With a focus on lowering their daily costs of goods, Twiga aims to capitalize on the untapped potential within broken, informal value-chains and wholesale providers. Nairobi alone boasts at least 18,000 small and medium-sized vendors purchasing $55 worth of stock daily, positioning Twiga to emerge as their primary source of supply. The company's future plans involve expanding its platform to five African markets. A significant milestone for Twiga was the $35.00M Debt Financing investment secured on 18 December 2023, with participation from Creadev and Juven. The startup operates at the intersection of agriculture, e-commerce, and retail, presenting enormous growth potential within an evolving market landscape.
Funding Stage | Amount | No. Investors | Investors | Date |
---|---|---|---|---|
Debt Financing | $35.00M | 2 | 18 Dec 2023 | |
Venture Round | Unknown | 2 | 28 Nov 2023 | |
Series C | $50.00M | 9 | OP Finnfund Global Impact Fund I, IFC Venture Capital Group +1 | 01 Nov 2021 |
Debt Financing | $30.00M | 1 | 29 Oct 2020 | |
Series B | $23.75M | 6 | IFC Venture Capital Group | 28 Oct 2019 |
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