Sokowatch African markets:
Kenya based e-commerce startup, Sokowatch just raised $14 million in Series A funding as it seeks to revamp supply-chain markets for Africa’s informal retailers. The company recently launched a platform that links merchants directly with local, multinational suppliers and digitizes orders, payments, and delivery-logistics.
Since its launch four years ago, and raising a $2 million seed round in 2018, Sokowatch has experienced expansion within Kenya and into Rwanda, Tanzania, and Uganda.
CEO Spkowatch, Daniel YU, had this to say, “We’re looking to build out the largest B2B e-commerce network across Africa. We…estimate that we save merchants at least 20% on supply-chain costs for the goods we supply. We handle all of our last-mile logistics exclusively ourselves. As part of the product we are developing other tools for merchants to directly manage other aspects of their business, especially when it comes inventory and overall sales. We’ve been able to use that data to offer in-kind credit lines to many shops that can’t gain it from banks.”
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