Kenya’s MarketForce Raises USD 40 Mn Series A Round To Scale

Kenyan startup MarketForce, a B2B platform for retail distribution of consumer goods and digital financial services, has closed a USD 40 Mn Series A round to scale its merchant super app, RejaReja, across the continent.  The round was led by V8 Capital Partners, a London and Lagos-based African-focused investment vehicle, with participation from Ten13 VC, SOSV Select Fund, Vu Ventures, and Vastly Valuable Ventures.

MarketForce is a B2B retail marketplace that empowers informal merchants in Africa to source, order, and pay for inventory digitally and conveniently, access financing, collect digital payments and make extra money by reselling digital financial services such as airtime, electricity tokens, and bill payments. Its merchant super app RejaReja, which offers informal merchants next-day delivery for hundreds of SKUs from the leading FMCG brands, has onboarded over 100,000 merchants so far and is operational in five African markets.