MarketForce, the Kenyan-based end-to-end retail distribution platform for consumer brands in Africa, has raised a $100,000 investment from the Harambeans Prosperity Fund, an initiative of the Harambe Entrepreneur Alliance’s network of prominent families and corporations. This takes the total capital raised by the startup to US$2.6 million.
The latest funding comes less than a month after it secured a $2 million pre-series A round from investors such as P1 Ventures, Y Combinator, Launch Africa, V8 Capital, Future Africa, GreenHouse Capital, Rebel Fund, and Remapped Ventures, among others.
Founded in 2018 by Tesh Mbaabu and Mesongo Sibuti, MarkForce connects Africa’s informal retail outlets and consumers directly to suppliers of consumer goods and financial services by digitizing orders, delivery, and payments with the aim of solving the last mile distribution challenge.
Commenting on the new funding, Mbaabu said: “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.”
