Kenyan Proptech Startup Jumba Raises USD 4.5 M Seed Round

Kenyan B2B construction tech startup Jumba has raised USD 4.5 M seed funding round. The round was led by LocalGlobe, with participation from Enza Capital, that led its USD 1 M pre-seed round last year, Foundamental, Seedstars International Ventures, Logos Ventures, SpeedInvest, First Check Africa and Alumni Angel Network.

Jumba simplifies the sourcing of construction materials through a common marketplace for retailers and developers, removing the headache of dealing with multiple suppliers. Customers access products through its web platform but its team of sales associates in the different counties help with client sourcing too. Jumba then negotiates discounted prices (plus their markup) with manufacturers. The startup is also solving the financing headache for retailers through short-term financing backed by its bank partners, with plans underway to avail long-term credit to developers too.