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MarketForce, Kenya’s retail platform delivering complete functional solutions to consumers, has received a $100,000 investment from the Harambeans Prosperity Fund, an initiative of the Harambe Entrepreneur Alliance’s network of prominent families and corporations.
The investment comes after the distribution platform closed a $2 million pre-series A round last month, from investors such as P1 Ventures, Y Combinator, Launch Africa, V8 Capital, Future Africa, GreenHouse Capital, Rebel Fund, Remapped Ventures, among others.
Empowering consumer brands to improve field sales activities while developing their distribution channels across Africa, and other emerging markets, MarketForce bridges information gaps in the transportation of goods from distribution centres to final destinations, increasing efficiency throughout the sales and distribution value chain.
The startup was founded in 2018 by a team of strategic thinkers and techpreneurs, Tesh Mbaabu and Mesongo Sibuti. The company’s platform allows users to source, order and pay for goods via text messages and a mobile app, enabling them receive delivery within hours.
Through the platform, users can also leverage digital payments to resell digital financial services such as airtime, electricity tokens and bill payments.
Since its inception, the goal of MarketForce has been to solve the fragmentation issue experienced by small retail shops and their distribution networks.
It affirms to have enabled trade across over 20,000 retailers and has processed over $500 million in transactions through its platform.
Speaking on the funding round, Mbaabu said the company was delighted by the investment from the Harambeans Prosperity Fund.
He was inducted into the investor’s 2020 cohort and became part of the entrepreneurs thriving hard to bring about sustainability in Africa.
The company has a goal to keep leveraging digital solutions to solve challenges across the continent, helping business owners achieve their goals, driving an enabling environment where jobs would be created and providing goods and services that would impact the people positively.
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