Kenyan Retail-Tech Startup Bamba Raises USD 3.2 Mn Seed Round

Kenya’s Bamba, a mobile-first enterprise software for micro-merchants in Africa, has secured USD 3.2 Mn in seed funding to scale its app and build its team. The seed round was led by VC firm 468 Capital, with participation from Presight Ventures, Jigsaw VC, and high profile angels Mato Peric, Leonard Stiegeler, Laurin Hainy, and Thomas Stafford.

Bamba provides a mobile application allowing small businesses to manage their customers efficiently and stock levels, get paid payout, and takeout cash advances against their future cash flow. The company is currently in stealth mode and will use the new capital to build out its mobile product offer, scale its engineering team and expand its user base across 12 Sub-Saharan African countries with high mobile money penetration.